The Securities and Exchange Board of India (SEBI) has introduced amendments to the SEBI (Foreign Portfolio Investors) Regulations, 2019. These new regulations, effective from their publication date, introduce a proviso allowing resident Indian entities, other than individuals, to be constituents of an applicant. This is permitted if they meet specific conditions related to being an eligible fund manager and the applicant being an eligible investment fund, as outlined in the Income Tax Act, 1961 and Income Tax Rules, 1962.
The SEBI has notified a new set of regulations to amend the existing SEBI (Foreign Portfolio Investors) Regulations, 2019 which shall come into force as on the date of its publication in the Official Gazette.
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