Direct or indirect change in control of a Fund Management Entity requires prior approval. A branch Fund Management Entity need only inform the Authority within fifteen days where prior approval is required from its sectoral regulator at its principal place of operation. Approval may be subject to appropriate conditions, including an opportunity for investors to exit.

Guaranteed returns in a scheme or under a portfolio management services agreement are prohibited unless the fund management entity fully guarantees them. The offer document or agreement must disclose the guarantee, its details, and the manner in which it will be fulfilled.

Fund Management Entities must maintain a sound system for comprehensive risk management. Adequate internal procedures and controls, appropriate to the businesses undertaken and including outsourced activities, are required to protect clients' and investors' interests and assets and ensure proper risk management.

Registered FMEs must maintain a robust cyber security and cyber resilience framework in accordance with requirements specified by the Authority from time to time. This creates an ongoing compliance responsibility to align cyber security and resilience arrangements with applicable regulatory requirements.

Registered Fund Management Entities must maintain a business continuity plan containing procedures to address emergencies or significant business disruptions. The plan must be updated following any material change in operations, structure, business, or location, and reviewed annually to ensure it remains appropriate.

Information to the Authority requires fund management entities, fiduciaries and persons involved in regulated activities to furnish reports, returns, statements and particulars accurately and within prescribed timelines, intervals, forms and manner. The Authority may call for information, documents or records from fund management entities and entities engaged by them for related functions. A fund management entity must furnish requested information accurately within the specified time.

Fund management entities must maintain scheme-specific books, records and documents that explain transactions, disclose financial position, and present a true and fair view of scheme affairs. Electronically retrievable financial, audit, compliance, client-account and regulated-activity records must be preserved for at least eight years. Records relating to scheme assets, valuation practices, investment strategies, investor contributions and investment rationale must be retained electronically for at least five years after scheme winding up.

Every Fund Management Entity, its fiduciaries and key managerial personnel, including the Principal Officer, Fund Managers and Designated Compliance Officer, must comply with the Code of Conduct specified in the Third Schedule to the International Financial Services Centres Authority (Fund Management) Regulations, 2025.

Voluntary delisting of an Investment Trust, scheme or ETF may be undertaken by a recognised stock exchange upon a request from the Investment Trust or Fund Management Entity (FME). The process must follow the manner provided by the recognised stock exchange or the Authority.

Delisting by a recognised stock exchange may apply to an Investment Trust, scheme or ETF upon prolonged trading suspension without adequate restoration action, loss of listing or trading eligibility, or compulsory delisting from another exchange. It may also be undertaken where special circumstances require delisting or where directed by the Authority, another relevant authority, or a court of applicable jurisdiction.

Regulation 115 governs suspension of listing and trading of units of an Investment Trust, schemes, or an ETF. The Authority or a recognised stock exchange may suspend trading for regulatory non-compliance by the Investment Trust, its parties, or the FME; where suspension exists on another stock exchange; or where necessary for orderly market operations. A recognised stock exchange may restore listing and trading when suspension is no longer required.

Secondary listing and trading may be permitted for an ETF or Investment Trust already listed in India outside IFSC or in a foreign jurisdiction, where it complies with the law of its home jurisdiction. Listing applications must follow the format and manner prescribed by the recognised stock exchange. The exchange may exempt continuous obligations and disclosure requirements if the FME provides all information and documents in English simultaneously with their release to the home exchange of primary listing.

Listed schemes, ETFs and Investment Trusts must make disclosures specified by the Authority or recognised stock exchanges under the International Financial Services Centres Authority (Fund Management) Regulations, 2025.

Listing approval and delisting framework requires a Fund Management Entity intending to list units of a scheme, exchange-traded fund or Investment Trust on a recognised stock exchange to obtain in-principle approval in accordance with the exchange's applicable requirements. Delisting is permitted subject to the terms and conditions specified by recognised stock exchanges.

Investment Trust units must be listed on a recognised stock exchange unless privately placed and neither listed nor proposed to be listed. Initial public offer units require listing within 12 working days after closure, and privately placed units within 30 working days after allotment, subject to the minimum subscription exception. Listing, trading, clearing and settlement must comply with exchange agreements and applicable requirements. Pre-offer unit holders other than sponsors must observe a six-month holding period from listing. Unlisted Investment Trusts may list by meeting requirements for privately placed and listed Investment Trusts.

ETF units must be mandatorily listed on at least one recognised stock exchange. Regulation 110 establishes exchange listing as a compulsory requirement for ETFs.

Fund Management Entities may list close-ended schemes on recognised stock exchanges. Listing on at least one recognised stock exchange is mandatory where a close-ended retail scheme requires a minimum investment from an investor below USD 10,000.

Regulation 108 establishes a permissive listing framework for open-ended schemes. Fund Management Entities may list their open-ended schemes on recognised stock exchanges. The provision addresses the availability of stock-exchange listing for such schemes rather than imposing a mandatory listing requirement.

Imported second-hand machinery should ordinarily be supported by an overseas inspection or appraisement report in the prescribed form. If unavailable, a locally empanelled Chartered Engineer may inspect the goods. The importer must intimate the Import Shed AC/DC, and the local inspection is supervised by an Appraising Officer or Superintendent. The resulting report requires countersignature by that officer and departmental submission for record purposes. Assessment considers the certificate, invoice, relevant documents and NIDB data to determine acceptance of transaction value or redetermination under the Customs Valuation Rules.

For Part B concerning NPOs, "specified provision" encompasses section 12A, section 12AA, section 12AB, and section 10(23C) of the Income-tax Act, 1961, together with section 332. The definition establishes the statutory references included within that expression for the Part B NPO framework.