General obligations and responsibilities of foreign portfolio investors

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..... inform the Board and designated depository participant in writing, if any information or particulars previously submitted to the Board or designated depository participant are found to be false or misleading, in any material respect; 2 [ (c) as soon as possible but not later than seven working days, inform the Board and designated depository participant in writing, if there is any material change in the information including any direct or indirect change in its structure or ownership or control or investor group previously furnished by him to the Board or designated depository participant; ] (d) as and when required by the Board or any other Government agency in India, submit any information, record or documents in relation to it .....

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..... mbrances. 3 [ (l) ensure that accurate details regarding its investor group are maintained with its designated depository participant at all times. ] Explanation An encumbrance created to meet any statutory and regulatory requirements shall not be considered under this clause. (2) In case of jointly held depository accounts, each of the joint holders shall meet the requirements specified for foreign portfolio investor and each shall be deemed to be holding a depository account as a foreign portfolio investor. (3) Multiple entities registered as foreign portfolio investors and directly or indirectly, having common ownership of more than fifty per cent or common control, shall be treated as part of the same investor group .....

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..... or unit trusts which are open for subscription to retail investors and which do not have specific investor type requirements like accredited investors; (ii) insurance companies where segregated portfolio with one to one correlation with a single investor is not maintained; and (iii) pension funds. 4 [ (5) In case of any direct or indirect change in structure or common ownership or control of the foreign portfolio investor or investor group, it shall, as soon as possible but not later than seven working days, bring the same to the notice of its designated depository participant. ] 5 [ (6) A foreign portfolio investor that fulfils the criteria specified by the Board from time to time, shall provide information or documents .....

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