TMI BlogEligibility criteria of foreign portfolio investorX X X X Extracts X X X X X X X X Extracts X X X X ..... foreign portfolio investor unless the applicant satisfies the following conditions namely,- (a) the applicant is a person not resident in India; (b) the applicant is resident of a country whose securities market regulator is a signatory to International Organization of Securities Commission s Multilateral Memorandum of Understanding (Appendix A Signatories) or a signatory to bilateral Memora ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... encies or has not committed to an action plan developed with the Financial Action Task Force to address the deficiencies; (e) the applicant is not a non-resident Indian; (f) the applicant is legally permitted to invest in securities outside the country of its incorporation or establishment or place of business; (g) the applicant is authorized by its Memorandum of Association and Articles ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5, clauses (f), (g) (h)and (i) of this regulation shall not be applicable.] Explanation.-For the purposes of this regulation: (i) The term person shall have the same meaning as assigned to it under section 2 (31) of the Income-tax Act, 1961; (ii) The term non-resident shall have the same meaning as assigned to it under the Income-tax Act, 1961; (iii) The term resident in India ..... X X X X Extracts X X X X X X X X Extracts X X X X
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