Placement memorandum requirements: mandatory disclosures on fund structure, subscription terms, manager details and investment strategy. Regulation 19AC mandates that the placement memorandum or subscription agreement for a migrated venture capital fund disclose trustees or trustee company and directors or chief executives; the fund corpus, minimum subscription thresholds and refund provisions; entitlements on units; tax implications for investors; subscription manner; maturity period, winding-up mechanism and distribution of benefits; fund manager or asset management company details and fees; any performance history; the investment strategy; and any other information specified by the Board.
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.
Placement memorandum requirements: mandatory disclosures on fund structure, subscription terms, manager details and investment strategy.
Regulation 19AC mandates that the placement memorandum or subscription agreement for a migrated venture capital fund disclose trustees or trustee company and directors or chief executives; the fund corpus, minimum subscription thresholds and refund provisions; entitlements on units; tax implications for investors; subscription manner; maturity period, winding-up mechanism and distribution of benefits; fund manager or asset management company details and fees; any performance history; the investment strategy; and any other information specified by the Board.
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