Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2021

Jan 11, 2021 | by Avantis RegTech Legal Research Team

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Industry Specific Compliance

The Securities and Exchange Board of India (SEBI) on January 08, 2021 has issued the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2021 to further amend the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012. 

The following amendments have been made: 

• Regulation 20, which specifies the investment requirements for the alternative investment fund, a new proviso has been inserted, namely: 

“Provided further that clauses (i) and (ii) shall not apply to an Alternative Investment Fund in which each investor other than the Manager, Sponsor, employees or directors of the Alternative Investment Fund or employees or directors of the Manager, has committed to invest not less than seventy crore rupees (or an equivalent amount in currency other than Indian rupee) and has furnished a waiver to the Alternative Investment Fund in respect of compliance with the said clauses, in the manner specified by the Board.”

[Notification No. SEBI/LAD-NRO/GN/2021/01]

 


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