SEBI amends FPI norms; inserts new regulation 43B to grant relaxations from strict enforcement of certain regulations

SEBI amends the SEBI (Foreign Portfolio Investors) Regulations, 2019. A new Regulation 43B has been inserted which allows Board to grant relaxation from strict enforcement of any of provisions of these regulations, if the Board is satisfied that: (a) non-compliance is caused due to factors beyond control of entity; or (b) the requirement is procedural or technical in nature. It further provides that application seeking relaxation u/s 43B must be accompanied by a non-refundable fee of USD 1,000.SEBI amends the SEBI (Foreign Portfolio Investors) Regulations, 2019. A new Regulation 43B has been inserted which allows Board to grant relaxation from strict enforcement of any of provisions of these regulations, if the Board is satisfied that: (a) non-compliance is caused due to factors beyond control of entity; or (b) the requirement is procedural or technical in nature. It further provides that application seeking relaxation u/s 43B must be accompanied by a non-refundable fee of USD 1,000.taxmann.com Latest Statutory HappeningsRead More

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