<h1>Space regulation draft undergoing scrutiny; IN SPACe-backed fund manager approved to mobilise private space investment for sector growth.</h1> The draft Space Activities Bill is undergoing government scrutiny as the maiden sectoral statute to regulate and promote space activities and enable private participation. Separately, the national space promotion and authorization entity's board selection of a private investment manager for a government announced venture capital fund to address the lack of risk capital in high tech space companies has been concurred with by economic and industry departments to mobilise investment and support sector competitiveness.