Securities and Exchange Board of India (Portfolio Managers) (Third Amendment) Regulations, 2021.

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....NRO/GN/2021/31.-In exercise of the powers conferred by sub-section (1) of Section 30 read with sub-section (1) of section 11, clause (b) of sub-section (2) of Section 11 and sub-section (1) of Section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange....

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....lfils the eligibility criteria as specified by the Board and is granted a certificate of accreditation by an accreditation agency;" ii. after clause (l) and before clause (m), the following clauses shall be inserted, namely, - "(la) "large value accredited investor" means an accredited investor who has entered into an agreement with the portfolio manager for a minimum investment amount of ten ....

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....tion (4) of regulation 24, the following sub-regulation shall be inserted, namely, - "(4A) The portfolio manager may offer discretionary or non-discretionary or advisory services for investment up to hundred percent of the assets under management of the large value accredited investors in unlisted securities, subject to appropriate disclosures in the disclosure document and the terms agreed betw....