4274 GI/2021

(1)

रजिस्ट्री सं. डी.एल.- 33004/99

REGD. No. D. L.-33004/99

xxxGIDHxxx

xxxGIDExxx

ऄसाधारण

EXTRAORDINARY

भाग III—खण् ड 4

PART III—Section 4

प्राजधकार से प्रकाजित

PUBLISHED BY AUTHORITY

भारतीय प्रजतभूजत और जिजनमय बोडड

ऄजधसूचना

मुम्बइ, 3 ऄगस्ट् त, 2021

भारतीय प्रजतभूजत और जिजनमय बोडड

( ) ( संिोधन) जिजनयम, 2021

सं. सेबी/एलएडी-एनअरओ/िीएन/2021/31.—भारतीय प्रजतभूजत और जिजनमय बोडड, भारतीय प्रजतभूजत और

जिजनमय बोडड ऄजधजनयम, 1992 (1992 का 15) की धारा 11 की उ - (1), धारा 11 की ईप-धारा (2) के खंड (ख)

12 उ - (1) के साथ पठित धारा 30 की ईप-धारा (1) द्वारा प्र गई िजियों का प्रयोग करते

हुए, एतद्द्वारा भारतीय प्रजतभूजत और जिजनमय बोडड ( ) जिजनयम, 2020 का और संिोधन करने के जलए

जनम्नजलजखत जिजनयम बनाता है, ऄथाडत्:-

आन जिजनयमों को भारतीय प्रजतभूजत और जिजनमय बोडड ( ) ( सरा संिोधन) जिजनयम,

2021 कहा िा सकेगा ।

िे रािपत्र में ईनके प्रकािन की तारीख को लागू होंगे ।

भारतीय प्रजतभूजत और जिजनमय बोडड ( ) जिजनयम, 2020 में,-

जिजनयम 2 उ - (1) ,

सं. 311]

नइ ददल्ली, मंगलिार, ऄगस्ट् त 3, 2021/श्रािण 12, 1943

No. 311]

NEW DELHI, TUESDAY, AUGUST 3, 2021/SHRAVANA 12, 1943

सी.जी.-डी.एल.-अ.-03082021-228701

CG-DL-E-03082021-228701

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART III—SEC. 4]

(क) के पश्चात् और खंड (ख) से पूिड, जनम्नजलजखत खंड ऄंतःस्ट्थाजपत दकए िाएंगे, ऄथाडत्, -

“(क ) “ऄक्रेजडटेिन एिेंसी” का िही ऄथड होगा, िो भारतीय प्रजतभूजत और जिजनमय बोडड

[अनुकजल्पक जिजनधान (जनिेि) जनजधयााँ] जिजनयम, 2012 के जिजनयम 2 के ईप-जिजनयम (1)

के खंड (क ) में आसके जलए ददया हुअ है;

“(कख) “ऄक्रेजडठटड जनिेिक” का ऄथड -

औ

ग ;”

ii.

(ठ) औ ( ) , : ग , ,-

“(ठ ) “ ” ,

;”

II.

22 ,

उ - (1) , “।”, “:” ग ।

ii.

उ - (1) , : ग , ,-

“ इ -IV ( ) -

गई , औ

ग ग ।”

III.

23 उ - (2) , , :

ग , ,-

“ औ ( ) उ

( ) औ ई ,

ग ग :”

IV.

24 उ - (4) , उ - : ग ,

“(4 )

( ) - ग (

) ने के (जडस्ट्क्रेिनरी) या गैर-िैिेदकक (नॉन-जडस्ट्क्रेिनरी) या

सलाहकार ( इ ) सेिाएाँ दे सकेगा, ( )

उ

( ) औ ई

।”

ऄिय त्यागी, ऄध्यक्ष

[जिज्ञापन III/4/ऄसा./176/2021-22]

पाद ठटप्पण:

1. भारतीय प्रजतभूजत और जिजनमय बोडड ( ) जिजनयम, 2020, सं. /एल.ए.डी.-एन.अर.ओ./

िी.एन./2020/03 द्वारा, 16 , 2020 को भारत के रािपत्र में प्रकाजित हुए थे ।

2. भारतीय प्रजतभूजत और जिजनमय बोडड ( ) जिजनयम, 2020 तत्पश्चात्,-

क. 17 ऄप्रैल, 2020 को भारतीय प्रजतभूजत और जिजनमय बोडड (रेग्यूलेटरी सैंडबॉक्स) (संिोधन) जिजनयम 2020,

सं. सेबी/एल.ए.डी.-एनअरओ/िी एन/2020/10, द्वारा

ख. 16 , 2021 को भारतीय प्रजतभूजत और जिजनमय बोडड ( ) (संिोधन) जिजनयम 2021,

सं. सेबी/एल.ए.डी.-एन.अर.ओ./िी.एन./2021/10, द्वारा

ग. 26 , 2021 को भारतीय प्रजतभूजत और जिजनमय बोडड ( ) ( संिोधन) जिजनयम

2021, सं. सेबी/एल.ए.डी.-एन.अर.ओ./िी.एन./2021/16, द्वारा

संिोजधत हुए थे ।

[भाग III—खण् ड 4]

भारत का रािपत्र : ऄसाधारण

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, the 3rd August, 2021

SECURITIES AND EXCHANGE BOARD OF INDIA (PORTFOLIO MANAGERS) (THIRD

AMENDMENT) REGULATIONS, 2021

No. SEBI/LAD-NRO/GN/2021/31.—In exercise of the powers conferred by sub-section (1) of

Section 30 read with sub-section (1) of section 11, clause (b) of sub-section (2) of Section 11 and

sub-section (1) of Section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the

Securities and Exchange Board of India hereby makes the following regulations to further amend the

Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020, namely:–

These Regulations may be called the Securities and Exchange Board of India (Portfolio Managers)

(Third Amendment) Regulations, 2021.

They shall come into force on the date of their publication in the Official Gazette.

In the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020,-

I. In sub-regulation (1) of regulation 2,

after clause (a) and before clause (b), the following clauses shall be inserted,

namely, –

“(aa) “accreditation agency” shall have the same meaning as assigned to it in

clause (aa) of sub-regulation (1) of regulation 2 of the Securities and Exchange

Board of India (Alternative Investment Funds) Regulations, 2012;

(ab) “accredited investor” means any person who fulfils the eligibility criteria as

specified by the Board and is granted a certificate of accreditation by an

accreditation agency;”

ii.

after clause (l) and before clause (m), the following clauses shall be inserted,

namely, –

“(la) “large value accredited investor” means an accredited investor who has

entered into an agreement with the portfolio manager for a minimum investment

amount of ten crore rupees;”

II. In regulation 22,

in sub-regulation (1), the symbol “.” shall be substituted with the symbol “:”

ii.

in sub-regulation (1), the following proviso shall be inserted, namely,–

“Provided that the contents of agreement specified under Schedule IV of these

regulations shall not apply to the agreement between the portfolio managers and

the large value accredited investors.”

III. In sub-regulation (2) of regulation 23, after the first proviso, the following proviso shall be

inserted, namely, –

“Provided further that subject to appropriate disclosures in the disclosure document and

the terms agreed between the client and the portfolio manager, the requirement of

minimum investment amount per client shall not apply to an accredited investor:”

IV. After sub-regulation (4) of regulation 24, the following sub-regulation shall be inserted,

namely, –

“(4A) The portfolio manager may offer discretionary or non-discretionary or advisory

services for investment up to hundred percent of the assets under management of the

large value accredited investors in unlisted securities, subject to appropriate disclosures

in the disclosure document and the terms agreed between the client and the portfolio

manager.”

AJAY TYAGI, Chairman

[ADVT.-III/4/Exty./176/2021-22]

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART III—SEC. 4]

Footnote:

1. The Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020, were

published in the Gazette of India on January 16, 2020 vide No. SEBI/LAD-NRO/GN/2020/03.

2. The Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 were

subsequently amended on, –

a. 17^th April, 2020 by the Securities and Exchange Board of India (Regulatory Sandbox)

(Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/2020/10.

b. 16th March, 2021 by the Securities and Exchange Board of India (Portfolio Managers)

(Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/10.

c. 26^th April, 2021 by the Securities and Exchange Board of India (Portfolio Managers)

(Second Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/16

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064

and Published by the Controller of Publications, Delhi-110054.

ALOK KUMAR

Digitally signed by ALOK KUMAR

Date: 2021.08.03 22:10:14 +05'30'