Issuance of Offshore Derivative Instruments by Registered Foreign Institutional Investors (FII) - SEBI - IMD/CUST/02 /2004

IMD DEPARTMENT EMAIL: chanda@sebi.gov.in WEB-SITE:www.sebi.gov.in FAX NO: 91 22 22829520 Circular No. IMD/CUST/02 /2004 January 26 , 2004 To All Foreign Institutional Investors and Custodians of Securities Dear Sir / Madam, Sub: Issuance of Offshore Derivative Instruments by Registered Foreign Institutional Investors (FII). Please refer to our Circular No. IMD/CUST/8/2003 dated August 08, 2003 regarding the captioned subject. Subsequent to the aforesaid circular, on a review and in the interests of greater efficacy of the market, amendment is being made to the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995. A copy of the Securities and Exchange Board of India (Foreign Institutional Investors) (Amendment) Regulations 2004, which has been sent for notification in the Official Gazette, is enclosed. A copy of this circular is available at the web page Foreign Institutional Investors on our website www.sebi.gov.in . The custodians are requested to bring the contents of this circular to the notice of all concerned. Yours faithfully, D. Chanda Chief General Manager