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<h1>SEBI mandates dematerialisation of AIF units by deadlines; new rules effective June 15, 2023, for investor protection.</h1> SEBI has mandated that Alternative Investment Funds (AIFs) issue units in dematerialised form as per the amended AIF Regulations, effective June 15, 2023. AIF schemes with a corpus of Rs 500 crore or more must dematerialise units by October 31, 2023, and those with less must do so by April 30, 2024. The requirement does not apply to schemes ending by April 30, 2024. Depositories must amend rules to facilitate these changes, and AIF managers must report compliance. This circular aims to protect investors and regulate the securities market, effective immediately.