Obligation to seek Registration and Exemptions therefrom

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....it in IFSC desirous of undertaking any of the below mentioned activities shall obtain a certificate of registration from the Authority: (a) Broker dealer; (b) Clearing member; (c) Credit rating agency; (d) Custodian; (e) Debenture Trustee; (f) Depository participant; (g) Distributor; (h) ESG Ratings and Data Products Provider;....

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....public. (5) The following persons are exempted from the requirement of seeking registration under these regulations - (a) as an 'investment adviser', if- (i) a person who gives general comments in good faith in regard to trends in the financial or securities market or the economic situation where such comments do not specify any particular securities or investment product; ....

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....activity; (vi) a fund manager, by whatever name called, providing advice to a mutual fund, retail fund, alternative investment fund or any other fund registered or regulated by the Authority or any other securities market regulator; (vii) any person providing investment advice to investors such as: a. central and state governments; b. developmental agencies set ....