EXISTING SCHEMES OR ARRANGEMENTS DEEMED TO BE A COLLECTIVE INVESTMENT SCHEME - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999
EXISTING SCHEMES OR ARRANGEMENTS DEEMED TO BE A COLLECTIVE INVESTMENT SCHEME - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999
Provisional registration: conditions for existing collective investment schemes include audits, ratings, trustees, valuation and phased net worth compliance. Provisional registration for existing collective investment schemes is conditional on obtaining ratings, audits and appraisals of schemes within ... Summary
Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999
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Provisional registration: conditions for existing collective investment schemes include audits, ratings, trustees, valuation and phased net worth compliance.
Provisional registration for existing collective investment schemes is conditional on obtaining ratings, audits and appraisals of schemes within prescribed periods; creating a trust and appointing trustees as specified; complying with accounting and valuation norms for pre-regulation schemes; observing restrictions on disposal of scheme property and other specified regulatory conditions; meeting staged minimum net worth benchmarks; giving a written undertaking and paying the provisional registration fee. Non-compliance with these conditions and regulation 9 disqualifies the applicant from certificate of registration under regulation 10 and mandates winding up as per regulation 73.
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