In the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995 through SEBI (FII) (Amendment) Regulations, 2010 vide Notification No. LAD-NRO/GN/2010-11/02/1107 dated 13th April 2010, the following updates were included:
(i) in regulation 15, in sub-regulation (3),-
(a) in clause (a), after second proviso, the following proviso shall be inserted, namely:-
“Provided further that nothing contained in this clause shall apply to any transaction in securities by the Foreign Institutional Investor pursuant to an agreement entered into with the merchant banker in the process of market making or subscribing to unsubscribed portion of the issue in accordance with Chapter XA of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.”
(b) in clause (c), after sixth proviso, the following proviso shall be inserted, namely:-
“Provided further that nothing contained in this clause shall apply to any transaction in securities by the Foreign Institutional Investor pursuant to an
agreement entered into with merchant banker in the process of market making or subscribing to unsubscribed portion of the issue in accordance with Chapter XA of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.”
Friday, August 6, 2010
FII Amendment 2010: exemption extended to market making through SME platform under Chapter XA ICDR
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