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of <h1>Securities Laws (Amendment) Act 2014: Section 11AA Updates Define Unregistered Fund Pools as Collective Investment Schemes Over 100 Crore</h1> Section 11AA of the Securities and Exchange Board of India Act, 1992, has been amended by the Securities Laws (Amendment) Act, 2014. The amendments include the insertion of references to a new sub-section (2A) in sub-sections (1) and (3). A proviso is added to sub-section (1) stating that any unregistered pooling of funds involving a corpus of 100 crore rupees or more is deemed a collective investment scheme. The term 'company' in sub-section (2) is replaced with 'person,' and a new sub-section (2A) is introduced, allowing schemes by any person under specified conditions. A new clause is added to sub-section (3) for government-notified schemes.
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