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of <h1>Finance Act, 2021 amends Securities Contracts Act, 1956: Defines 'pooled investment vehicle' under Section 2. Updates clauses for SEBI compliance.</h1> The Finance Act, 2021 amends the Securities Contracts (Regulation) Act, 1956, by introducing the definition of 'pooled investment vehicle' in section 2. This term refers to funds established in India, such as mutual funds, alternative investment funds, collective investment schemes, or business trusts, which are registered with the Securities and Exchange Board of India. These vehicles collect money from investors and invest according to SEBI regulations. Additionally, the amendment modifies clause (h) to include pooled investment vehicles alongside other corporate bodies and introduces sub-clause (ida) to cover units or instruments issued by these vehicles.
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