Fit and proper person requirement added to Venture Capital Funds regulations, making fitness and propriety a condition of applicant eligibility. Amendment adds a fitness and propriety threshold to regulation 4 by inserting new sub clause (v) in clause (a): 'it is a fit and proper person,' and a matching sub clause (v) in clause (b): 'the applicant is a fit and proper person,' making fitness and propriety a condition of eligibility; the amendment takes effect on publication in the Official Gazette.