Alternative Investment Fund scheme fees and filing timelines revised, with manager compliance duties and simplified accredited-investor fund requirements. Regulation 12 is amended to require scheme fees under the Second Schedule, while exempting the first scheme launched by an Alternative Investment Fund from scheme fees. The filing period is reduced to ten working days, with documents specified by the Board replacing the earlier fee-related requirement. After filing, the Board may communicate comments to the merchant banker or Manager, who must ensure compliance. These provisions do not apply to an Accredited Investors only fund. References to action through a merchant banker are removed from regulation 19D(4), and regulation 19D(5) is omitted.
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.
Alternative Investment Fund scheme fees and filing timelines revised, with manager compliance duties and simplified accredited-investor fund requirements.
Regulation 12 is amended to require scheme fees under the Second Schedule, while exempting the first scheme launched by an Alternative Investment Fund from scheme fees. The filing period is reduced to ten working days, with documents specified by the Board replacing the earlier fee-related requirement. After filing, the Board may communicate comments to the merchant banker or Manager, who must ensure compliance. These provisions do not apply to an Accredited Investors only fund. References to action through a merchant banker are removed from regulation 19D(4), and regulation 19D(5) is omitted.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
