CIRCULAR
SEBI/HO/IMD/FPI&C/CIR/P/2022/57
April 29, 2022
To,
1. All Foreign Portfolio Investors ("FPIs") through their Designated Depository
Participants ("DDPs")
2. Designated Depository Participants ("DDPs")
3. The Depositories (NSDL and CDSL)
Dear Sir / Madam,
Sub: Modification in the Operational Guidelines for Foreign Portfolio Investors,
Designated Depository Participants and Eligible Foreign Investors - SEBI to
generate FPI registration number and both the Depositories to host the CAF.
1. The SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2022 was notified
on January 14, 2022 for generation of Foreign Portfolio Investor (FPI) registration
number by SEBI.
2. Subsequently, the Department of Economic Affairs, Ministry of Finance, Government
of India, vide Notification No. F. No. 4/15/2016-ECB, dated March 29, 2022, amended
the Common Application Form (CAF), wherein both the Depositories, viz., NSDL and
CDSL have been allowed to host the CAF for FPI registration.
3. In order to operationalize the same, it has been decided to modify the ‘Operational
Guidelines for Foreign Portfolio Investors, Designated Depository Participants and
Eligible Foreign Investors’, issued vide SEBI Circular No. IMD/FPI&C/CIR/P/2019/124
dated November 05, 2019 (hereinafter referred to as ‘the Operational Guidelines’), as
under:
a. In Paragraph 6 of Part A of the Operational Guidelines, pertaining to the
Certificate of Registration, shall be read as follows:
“The designated depository participant shall grant the certificate of
registration, bearing registration number generated by SEBI”
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b. In Paragraph 10(iii) of Part A of the Operational Guidelines, pertaining to
Name change, shall be read as follows:
“Upon receipt of the request for name change along with abovementioned
documents, the DDP shall effect the change in name in the certificate. The
DDP shall issue a letter and fresh registration certificate to such applicant
acknowledging the change in name. Respective Depositories shall make
necessary arrangements for DDPs to provide fresh registration certificate as
an acknowledgement from its database including a statement that the name
change has been granted without prejudice to any tax liability/ implication in
India.”
4. The provisions of this circular shall be applicable with effect from May 09, 2022.
Further, all other provisions of the Operational Guidelines shall remain unchanged.
5. This circular is issued in exercise of powers conferred under Section 11 (1) of the
Securities and Exchange Board of India Act, 1992.
6. A copy of this circular is available at the web page “Circulars” on our website
www.sebi.gov.in.
Yours faithfully,
Amit Tandon
General Manager
Tel No.: 022-26449373
Email id: amitt@sebi.gov.in
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