The Pension Fund Regulatory and Development Authority makes the Pension Fund Regulatory and Development Authority (Pension Fund) (Sixth Amendment) Regulations, 2021 to amend the Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015 namely,
- In regulation 8 relating to Eligibility Criteria, in clause (g), the words “forty nine per cent.” shall be substituted with “seventy four per cent.”
(g)] the aggregate holding of equity shares by a foreign company either by itself or through its subsidiary companies or its nominees or by an individual or by an association of persons whether registered or not under any law of a country outside India taken in aggregate in the pension fund shall not exceed seventy four percent. of the paid-up capital of such fund or such percentage as may be approved for an Indian Insurance Company under the provisions of the Insurance Act, 1938 (4 of 1938), whichever is higher. The calculation of foreign investment shall be in accordance with the relevant rules notified by the Central Government or the regulations or guidelines issued by the Authority for the said purpose;