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Charges and Taxes


A “foreign portfolio investor” means a person who satisfies the eligibility criteria prescribed under regulation 4 and has been registered under Chapter II of these regulations;

Section 2(h) of Securities Contracts (Regulation) Act, 1956 defines “securities” include—

  1. shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like
    nature in or of any incorporated company or other body corporate;
    1. derivative;
    2. units or any other instrument issued by any collective investment scheme to the investors in such schemes;
    3. security receipt as defined in clause (zg) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002;
    4. units or any other such instrument issued to the investors under any mutual fund scheme;
      [Explanation— For the removal of doubts, it is hereby declared that “securities” shall not include any unit linked insurance policy or scrips or any such instrument or unit, by whatever name called which provides a combined benefit risks on the life of the persons and investment by such persons and issued by an insurer referred to in clause (9) of section 2 of the Insurance Act, 1938 (4 of 1938);]
    5. any certificate or instrument (by whatever name called), issued to an investor by any issuer being a special purpose distinct entity which possesses any debt or receivable,  including mortgage debt assigned to such entity, and acknowledging beneficial interest of such investor in such debt or receivable, including mortgage debt as the case may be; 
  2. Government securities;
    1. such other instruments as may be declared by the Central Government to be securities; and
  3. rights or interest in securities.
Updated on: 03/02/2021
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