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of <h1>Regulation 39 Repeals SEBI Venture Capital Funds Regulations 1996; New Rules Apply to Existing Funds and Applications</h1> Regulation 39 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, repeals the SEBI (Venture Capital Funds) Regulations, 1996. Actions taken under the repealed regulations, such as suspensions or investigations, are recognized under the new regulations. Existing venture capital funds or schemes will continue under the 1996 regulations until wound up, but cannot launch new schemes. Funds seeking registration as migrated venture capital funds will be governed by the new regulations, while others may face enhanced reporting requirements. Pending applications under the old regulations are considered under the new provisions, and references to the old regulations in other documents will refer to the new regulations.
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