Collective investment scheme deemed for pooled funds above specified corpus threshold; definition expanded and regulatory scope widened. Amendments broaden the definition of collective investment schemes by deeming unregistered or otherwise uncovered pooling arrangements meeting a prescribed corpus threshold to be collective investment schemes, insert a new sub section (2A) permitting schemes offered by any person to be regulated under conditions set by regulations, substitute the word 'person' for 'company' to widen applicability, and add an enabling clause for the Central Government to notify additional schemes in consultation with the Board.
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Provisions expressly mentioned in the judgment/order text.
Collective investment scheme deemed for pooled funds above specified corpus threshold; definition expanded and regulatory scope widened.
Amendments broaden the definition of collective investment schemes by deeming unregistered or otherwise uncovered pooling arrangements meeting a prescribed corpus threshold to be collective investment schemes, insert a new sub section (2A) permitting schemes offered by any person to be regulated under conditions set by regulations, substitute the word "person" for "company" to widen applicability, and add an enabling clause for the Central Government to notify additional schemes in consultation with the Board.
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