![]() ![]() Prohibits it from making an invitation to the public to subscribe to its securitiesġ. permits it to carry on the activity of an Alternative Investment Fund Ģ. Whether Applicant’s MOA/Trust Deed/ Partnership Deedġ. Hence registration has to be obtained under this category.ġ. (a) “Category I Alternative Investment Fund” – Invests in start-up or early stage ventures or social ventures or SMEs or infrastructure or other sectors or areas which the government or regulators consider as socially or economically desirable and shall include venture capital funds, SME Funds, social venture funds, infrastructure funds and such other Alternative Investment Funds as may be specified Įxplanation.─ For the purpose of this clause, Alternative Investment Funds which are generally perceived to have positive spillover effects on economy and for which the Board or Government of India or other regulators in India might consider providing incentives or concessions shall be included and such funds which are formed as trusts or companies shall be construe d as “venture capital company” or “venture capital fund” as specified under sub-section (23FB) of Section 10 of the Income Tax Act, 1961. “venture capital undertaking” means a domestic company which is not listed on a recognised stock exchange at the time of making investments ĬOMPULSORY REGISTRATION OF AIF WITH SEBI UNDER REGULATION 3Īs per Reg 3 No entity or person shall act as an Alternative Investment Fund unless it has obtained a certificate of registration from the Board in any one of the categories mentioned thereunder and in case of Category I Alternative Investment Fund, in one of the sub-categories mentioned thereof Include an angel fund as defined under Chapter III -A]ģ. Undertakings mainly involved in new products, new services, technology or intellectual property right based activities or a new business model [and shall “venture capital fund” means an Alternative Investment Fund which invests primarily in unlisted securities of start-ups, emerging or early – stage venture capital (vii) any such pool of funds which is directly regulated by any other regulator in India Ģ. (vi) funds managed by securitization company or reconstruction company which is registered with the Reserve Bank of India under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and V) other special purpose vehicles not established by fund managers, including securitization trusts, regulated under a specific regulatory framework (iv)’holding companies’ as defined under sub-section 46 of section 2 of Companies Act, 2013 (iii) employee welfare trusts or gratuity trusts set up for the benefit of employees ![]() (ii) ESOP Trusts set up under the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 or as permitted under Companies Act, 2013 ] (i) family trusts set up for the benefit of ‘relatives’ as defined under Provided that the following shall not be considered as Alternative Investment Fund for the purpose of these regulations, – (ii) is not covered under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999 or any other regulations of the Board to regulate fund management activities: ![]() (i) is a privately pooled investment vehicle which collects funds from investors, whether Indian or foreign, for investing it in accordance with a defined investment policy for the benefit of its investors and “Alternative Investment Fund” means any fund established or incorporated in India in the form of a trust or a company or a limited liability partnership or a body corporate which,. SECURITIES AND EXCHANGE BOARD OF INDIA (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012ġ. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |