TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... ble.]] 27 [(iiA) Category I Alternative Investment Fund (Cat-I AIF) means an Alternative Investment Fund registered under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 which raises money and invests in such funds or sectors or activities or areas in accordance with the said Regulations.] 30 [(iiA) convertible note means an instrument issued by a startup company evidencing receipt of money initially as debt, which is repayable at the option of the holder, or which is convertible into such number of equity shares of such startup company, within a period not exceeding five years from the date of issue of the convertible note, upon occurrence of specified events as per the other terms and conditions agreed to and indicated in the instrument.] 4 [iia. 'entity incorporated outside India means an entity incorporated/registered under the relevant statutes, laws of the host country.] 8 [(iib) 'preference shares' mean compulsorily and mandatorily convertible preference shares.] 9 [(iic) 'debenture' means compulsorily and mandatorily convertible debenture.] 20 [(iicc) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant regulations framed by SEBI or any other authority designated for the purpose and shall include Real Estate Investment Trusts (REITs) governed by the SEBI (REITs) Regulations, 2014, Infrastructure Investment Trusts (InvIts) governed by the SEBI (InvIts) Regulations, 2014 and Alternative Investment Funds (AIFs) governed by the SEBI (AIFs) Regulations, 2012. ] iii. 'registered Foreign Institutional Investor (FII)' means the foreign institutional investor registered with SEBI 14 [Any foreign institutional investor who holds a valid certificate of registration from SEBI shall be deemed to be a registered foreign portfolio investor (RFPI) till the expiry of the block of three years]; 1 [iiia.'Foreign Venture Capital Investor' means an investor incorporated and established outside India which proposes to make investment in Venture Capital Fund(s) or Venture Capital Undertaking(s) in India and is registered with SEBI under SEBI (Foreign Venture Capital Investors) Regulations, 2000;] 6 [iii] (b) Foreign Central Bank means an institution/organization/body corporate established in a country outside India and entrusted with the responsib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... )'Overseas Corporate Body (OCB)', shall have the meanings respectively assigned to them in the Foreign Exchange Management (Deposit) Regulations, 2000; 13 [(viiia) 'Qualified Foreign Investor' (QFI) means (a) during the period from 9th day of August, 2011 to 15th day of July, 2012, a person who satisfied the following criteria at the relevant time, (i) resident of a country, that is compliant with the Financial Action Task Force (FATF) standards and is a signatory to the IOSCO's Multilateral Memorandum of Understanding (MMoU); and (ii) satisfied the KYC requirements stipulated by SEBI: Provided that such a person is not registered with SEBI as a Foreign Institutional Investor (FII) or Foreign Venture Capital Investor (FVCI). (b) With effect from 16th day of July, 2012, a person who satisfies the following criteria at the relevant time: (i) Resident in a country that is a member of FATF or a member of a group which is a member of FATF; and (ii) Resident in a country that is a signatory to IOSCO's MMoU (and referred to as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gned to it under the Companies Act, 2013 . (iii) An entity is considered to be working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property if it aims to develop and commercialize (a) a new product or service or process; or (b) a significantly improved existing product or service or process that will create or add value for customers or workflow. Provided that it will not include the mere act of developing (a) products or services or processes which do not have potential for commercialization; or (b) undifferentiated products or services or processes or (c) products or services or processes with no or limited incremental value for customers or workflow.] 22 [(xa) sweat equity shares means such equity shares as issued by a company to its directors or employees at a discount or for consideration other than cash, for providing their know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called;] xi. 'Transferable Development Rights (TDR)' shall have the same meaning as assigned to it in the Reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted vide Notification No. 179/2008 dated 22/08/2008 w.e.f. 8-6-2007 10. Inserted vide Notification No. FEMA 224/2012-RB, Dated 7-3-2012 11. Inserted vide Notification No. FEMA 224/2012-RB, Dated 7-3-2012 existing clause (va) has been renumbered as (vb). 12. Inserted vide NOTIFICATION No. FEMA. 292/2013-RB October 4, 2013 13. Inserted vide Notification No. FEMA. 242/2012-RB Dated 19-10-2012 w.e.f. 9th day of August, 2011 14. Inserted vide Notification No. FEMA. 297/2014-RB dated March 13, 2014 15. Inserted vide Notification No. FEMA. 297/2014-RB dated March 13, 2014 16 . Inserted vide Notification No. FEMA. 298/2014-RB dated March 13, 2014 17. Inserted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014 18. Inserted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014 19. Deleted vide NOTIFICATION NO. 323/2014-RB , dated 17th October, 2014 before it was read as, Explanation: For the purpose of this regulation, the expressions, person , resident in India , non-resident shall have the same meaning as assigned to them in Section 2(u) , 2(v) and 2(w) of Foreign Exchange Management ..... 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