SEBI (Foreign Institutional Investors) (Amendment) Regulations, 2010 – Amendment in regulation 15

Notification No. LAD –NRO/GN/2010-11/02/1107, dated 13-4-2010

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securitiesand Exchange Board of India (Foreign Institutional Investors) Regulations, 1995, namely :–

1.    These regulations may be called the Securities and Exchange Board of India (Foreign Institutional Investors) (Amendment) Regulations, 2010.

2.    They shall come into force on the date of their publication in the Official Gazette.

3.    In the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995 ––

(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 securites 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."