Conditions for issuance of offshore derivative instruments

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..... uments, directly or indirectly, unless the following conditions are satisfied: (a) such offshore derivative instruments are issued only to persons who are regulated by an appropriate foreign regulatory authority; (b) such offshore derivative instruments are issued after compliance with know your client norms: Provided that those unregulated broad based funds, which are classified as Cat .....

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..... : (a) such offshore derivative instruments are transferred to persons subject to fulfillment of sub-regulation (1); and (b) prior consent of the foreign portfolio investor is obtained for such transfer,except when the persons to whom the offshore derivative instruments are to be transferred to are pre-approved by the foreign portfolio investor.] (3) Foreign portfolio investors shall fully .....

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..... very subscriber of offshore derivative instrument issued by it and deposit the same with the Board.] *********** 1 Inserted by the Securities and Exchange Board of India (ForeignPortfolio Investors) (Third Amendment) Regulations, 2017, w.e.f. 25.5.2017. 2 Substituted by the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2016, w.e.f. 8-7- .....

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