Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Fund investor participation and corpus rules updated: manager contributions excluded initially and compliance window for corpus extended. Amendment excludes from the calculation of the fund's aggregate participation by residents any contribution by the eligible fund manager during the first ... Summary
Fund investor participation and corpus rules updated: manager contributions excluded initially and compliance window for corpus extended.
Amendment excludes from the calculation of the fund's aggregate participation by residents any contribution by the eligible fund manager during the first three years of operation up to a capped amount, and extends the compliance window for newly established funds to meet the corpus maintenance requirement from six months to twelve months from the end of the month of establishment or incorporation.
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