Defitions of Permissible Jurisdiction :
Permissible Jurisdiction
‘Permissible Jurisdiction’ as foreign jurisdiction which is a member of the Financial Action Task Force on Money
Laundering and the regulator of the securities market in that jurisdiction is a member of the International
Organization of Securities Commission. Schedule I of the scheme gives the list of permissible jurisdiction.
Permissible securities
‘Permissible securities’ mean ‘securities’ as defined under section 2(h) of the Securities Contracts (Regulation) Act, 1956 and include similar instruments issued by private companies which:
(i) may be acquired by a person resident outside India under the Foreign Exchange Management Act, 1999: and
(ii) is in dematerialised form.
Right to issue voting instruction
‘Right to issue voting instruction’ means the right of a depository receipt holder to direct the foreign depository to vote in a particular manner on its behalf in respect of permissible securities.
