Category III AIFs permitted to hold goods after physical settlement; custodian must hold securities and goods. The Regulations define custodian as a person registered to carry on custodian business and define goods as items notified under the Securities Contracts (Regulation) Act forming the underlying of commodity derivatives; they permit Category III Alternative Investment Funds to deal in goods received on physical settlement of commodity derivatives and require the appointed custodian to keep custody of securities and such goods.
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.
Category III AIFs permitted to hold goods after physical settlement; custodian must hold securities and goods.
The Regulations define custodian as a person registered to carry on custodian business and define goods as items notified under the Securities Contracts (Regulation) Act forming the underlying of commodity derivatives; they permit Category III Alternative Investment Funds to deal in goods received on physical settlement of commodity derivatives and require the appointed custodian to keep custody of securities and such goods.
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