Alternative Investment Fund regulation clarified; purchases of foreign securities by funds now expressly subject to exchange regulations and additional conditions. The amendments add a definition of Alternative Investment Fund aligned with securities regulator rules, and replace the prior provision to state that purchases of foreign securities by Mutual Funds, Venture Capital Funds and Alternative Investment Funds are subject to the Foreign Exchange Management Regulations and any additional terms and conditions that may be specified by the Reserve Bank and the securities regulator.
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Provisions expressly mentioned in the judgment/order text.
Alternative Investment Fund regulation clarified; purchases of foreign securities by funds now expressly subject to exchange regulations and additional conditions.
The amendments add a definition of Alternative Investment Fund aligned with securities regulator rules, and replace the prior provision to state that purchases of foreign securities by Mutual Funds, Venture Capital Funds and Alternative Investment Funds are subject to the Foreign Exchange Management Regulations and any additional terms and conditions that may be specified by the Reserve Bank and the securities regulator.
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