FAX NO: 91 22 22829520
Circular No. IMD/CUST/02 /2004
January 26 , 2004
All Foreign Institutional Investors and
Custodians of Securities
Dear Sir / Madam,
Sub: Issuance of Offshore Derivative Instruments by Registered Foreign Institutional Investors (FII).
Please refer to our Circular No. IMD/CUST/8/2003 dated August 08, 2003 regarding the captioned subject. Subsequent to the aforesaid circular, on a review and in the interests of greater efficacy of the market, amendment is being made to the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995. A copy of the Securities and Exchange Board of India (Foreign Institutional Investors) (Amendment) Regulations 2004, which has been sent for notification in the Official Gazette, is enclosed.
A copy of this circular is available at the web page "Foreign Institutional Investors" on our website www.sebi.gov.in . The custodians are requested to bring the contents of this circular to the notice of all concerned.
Chief General Manager