PRESS RELEASE
NOTIFIED DATE FOR SPECIFIED INVESTORS BEING BODIES CORPORATE WHOSE PROMOTERS AND DIRECTORS ARE PERSONS RESIDENT OUTSIDE INDIA UNDER THE SEBI (CENTRAL DATABASE OF MARKET PARTICIPANTS) REGULATIONS, 2003
Pursuant to the notification S.O.No.884(E) dated 30th July 2004 SEBI had notified 31st day of December 2004 as the date for the purposes of obtaining unique identification numbers in terms of sub-regulation (2) of regulation 6 of the Securities and Exchange Board of India (Central Database of Market Participants) Regulations, 2003 for specified investors being bodies corporate and their promoters and directors. SEBI had also issued a circular No. MRD/DOP/MAPIN/Cir-26 dated August 16, 2004 detailing the procedure to be followed by the said specified investors to obtain the UIN under the MAPIN database.
The Board has received representations about undue hardship to specified investors being bodies corporate whose promoters or directors are persons resident outside India. In order to mitigate the undue hardship which may be caused by insistence on strict compliance with the above time limit in respect of such promoters or directors, the Board hereby specifies 31st day of December, 2005 as the notified date for the purposes of obtaining unique identification numbers for specified investors being bodies corporate whose promoters or directors are persons resident outside India. For this purpose, the words ‘person resident outside India’ shall have the same meaning as is assigned to them in clause (w) of section 2 of the Foreign Exchange Management Act, 1999.
The necessary notification to this effect is being issued by SEBI.
Mumbai
December 31, 2004