Eligible fund manager compliance: portfolio managers must meet tax status, business purpose, profit entitlement and registration requirements. Existing SEBI-registered portfolio managers and applicants seeking SEBI registration must declare non employee and non connected person status relative to eligible investment funds, act in the ordinary course of their portfolio management business, ensure that neither they nor their connected persons receive more than a twenty per cent share of profits arising to the fund from transactions carried out through them, undertake to satisfy SEBI registration conditions where applicable, and comply with any additional requirements specified by the Government or other regulatory bodies; declarations must be signed by two directors or designated partners.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Eligible fund manager compliance: portfolio managers must meet tax status, business purpose, profit entitlement and registration requirements.
Existing SEBI-registered portfolio managers and applicants seeking SEBI registration must declare non employee and non connected person status relative to eligible investment funds, act in the ordinary course of their portfolio management business, ensure that neither they nor their connected persons receive more than a twenty per cent share of profits arising to the fund from transactions carried out through them, undertake to satisfy SEBI registration conditions where applicable, and comply with any additional requirements specified by the Government or other regulatory bodies; declarations must be signed by two directors or designated partners.
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