Change of control approvals require prior regulatory filing, time-bound in-principle clearance, and specified post-sanction submissions. An application for approval of change in control of an AIF Sponsor/Manager involving a scheme of arrangement must be filed with the regulator before initiating the scheme sanction process; upon regulatory satisfaction in-principle approval will be granted for a limited validity within which the sanction application must be filed. After sanction, final approval requires submission within the prescribed period of: application for final approval, sanctioning order, approved scheme, a statement of modifications to the draft scheme with reasons, and compliance details against in-principle conditions.
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.
Change of control approvals require prior regulatory filing, time-bound in-principle clearance, and specified post-sanction submissions.
An application for approval of change in control of an AIF Sponsor/Manager involving a scheme of arrangement must be filed with the regulator before initiating the scheme sanction process; upon regulatory satisfaction in-principle approval will be granted for a limited validity within which the sanction application must be filed. After sanction, final approval requires submission within the prescribed period of: application for final approval, sanctioning order, approved scheme, a statement of modifications to the draft scheme with reasons, and compliance details against in-principle conditions.
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