Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993

Chapter: I
PRELIMINARY
Regulation 1	:	Short title and commencement
Regulation 2	:	Definitions
Chapter: II
REGISTRATION OF PORTFOLIO MANAGERS
Regulation 3	:	Registration as portfolio manager
Regulation 3A	:	Application for grant of certificate
Regulation 4	:	Application to conform to the requirements
Regulation 5	:	Furnishing of further information, clarification and personal representation
Regulation 6	:	Consideration of application
Regulation 6A	:	Criteria for fit and proper person
Regulation 7	:	Capital Adequacy Requirement
Regulation 8	:	Procedure for registration
Regulation 9	:	Omitted
Regulation 9A	:	Conditions of registration
Regulation 9B	:	Period of validity of certificate
Regulation 10	:	Procedure where registration is not granted
Regulation 11	:	Effect of refusal to grant certificate
Regulation 12	:	Payment of fees, and the consequences of failure to pay fees
Chapter: II-A
ELIGIBLE FUND MANAGERS
Regulation 12A	:	Definitions
Regulation 12B	:	Applicability
Regulation 12C	:	Procedure to be followed by an existing Portfolio Manager
Regulation 12D	:	Procedure to be followed by an applicant for fresh registration
Regulation 12E	:	Obligation and Responsibilities of Eligible Fund Managers
Regulation 12F	:	Certain provisions not to apply
Chapter: III
GENERAL OBLIGATIONS AND RESPONSIBILITIES
Regulation 13	:	Code of Conduct
Regulation 14	:	Contract with clients and disclosures
Regulation 15	:	General responsibilities of a Portfolio Manager
Regulation 16	:	Investment of clients' moneys and management of clients' portfolio of securities
Regulation 16A	:	Foreign Institutional Investor and sub-accounts availing portfolio management services
Regulation 16B	:	Appointment of custodian
Regulation 17	:	Maintenance of books of accounts, records, etc.
Regulation 18	:	Submission of half-yearly results
Regulation 19	:	Maintenance of books of accounts, records and other documents
Regulation 20	:	Accounts and audit
Regulation 21	:	Reports to be furnished to the client
Regulation 22	:	Report on steps taken on Auditor's report
Regulation 23	:	Disclosures to the Board
Regulation 23A	:	Appointment of compliance officer
Chapter: IV
INSPECTION AND DISCIPLINARY PROCEEDINGS
Regulation 24	:	Right of inspection by the Board
Regulation 25	:	Notice before inspection
Regulation 26	:	Obligations of Portfolio Manager on inspection
Regulation 27	:	Submission of report to the Board
Regulation 28	:	Action on inspection or investigation report
Regulation 29	:	Appointment of Auditor
Chapter: V
PROCEDURE FOR ACTION IN CASE OF DEFAULT
Regulation 30	:	Liability for action in case of default
Regulation 31	:	Omitted
Regulation 32	:	Omitted
Regulation 33	:	Omitted
Regulation 34	:	Omitted
Regulation 35	:	Omitted
Regulation 36	:	Omitted
Regulation 37	:	Omitted
Regulation 38	:	Omitted
Chapter: VI
MISCELLANEOUS
Regulation 39	:	Power of the Board to issue clarifications
SCHEDULE
SCHEDULE - I	:	FORMS
SCHEDULE - II	:	FEES
SCHEDULE - III	:	CODE OF CONDUCT- PORTFOLIO MANAGER
SCHEDULE - IV	:	CONTENTS OF AGREEMENT BETWEEN THE PORTFOLIO MANAGER AND HIS CLIENTS
SCHEDULE - V	:	DISCLOSURE DOCUMENT
SCHEDULE - VI	:	Declarations for Eligible Fund Managers