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<h1>SEBI Regulation 11: Rules for Collective Investment Management Companies, Director Limits, and Investor Grievance Redressal</h1> Regulation 11 of the SEBI (Collective Investment Schemes) Regulations, 1999 outlines conditions for the registration of a Collective Investment Management Company. Directors cannot serve on multiple such companies unless they are independent and approved by relevant boards. Any material changes affecting the registration must be reported to SEBI. Director appointments require trustee approval, and compliance with relevant laws is mandatory. Changes in controlling interest need approval from SEBI, trustees, and unit holders. Investor grievances must be addressed within 21 days. Agreements for unit dematerialization, non-cash subscription payments, and adherence to KYC norms are required.