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Regulation 44 - Liability for action in case of default - Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014Extract CHAPTER VIII PROCEDURE FOR ACTION IN CASE OF DEFAULT Liability for action in case of default. 44. A foreign portfolio investor, designated depository participant, depository or any other person who contravenes any of the provisions of these regulations shall be liable for action under the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 and/or the relevant provisions of the Act or the Depositories Act, 1996.
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