Restricted scheme corpus and related-party controls govern unlisted investments, investor approvals, placement memorandum extensions, and differential distribution rights. Restricted schemes must maintain a minimum corpus of USD 3 million, although an open-ended scheme may commence investments after raising USD 1 million and ... Summary
Restricted scheme corpus and related-party controls govern unlisted investments, investor approvals, placement memorandum extensions, and differential distribution rights.
Restricted schemes must maintain a minimum corpus of USD 3 million, although an open-ended scheme may commence investments after raising USD 1 million and must achieve the minimum within 12 months. Open-ended schemes may invest no more than 25% of corpus in unlisted securities and may do so only after achieving the minimum corpus. Associate investments and specified related-party securities transactions require approval of 75% of investors by value, subject to disclosed fund of funds arrangements and voting exclusions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.