Securities and Exchange Board of India (Alternative Investment Funds) (Third Amendment) Regulations, 2021

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....wing regulations to further amend the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 namely:- 1. These regulations may be called the Securities and Exchange Board of India (Alternative Investment Funds) (Third Amendment) Regulations, 2021. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 - I. In sub-regulation (1) of regulation 2, i. clause (aa) shall be numbered as clause (za). ii. after clause (a) and before clause (b), the following clauses shall be inserted, namely, - "(aa) "accreditation agency" means a subsidiary of a recognized stock exchange or a ....

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....Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Category I foreign portfolio investors, sovereign wealth funds and multilateral agencies and any other entity as may be specified by the Board from time to time, shall deemed to be an accredited investor and may not be required to obtain a certificate of accreditation;" iii. After clause (p) and before clause (q), the following clause shall be inserted, namely, - "(pa) "large value fund for accredited investors" means an Alternative Investment Fund or scheme of an Alternative Investment Fund in which each investor (other than the Manager, Sponsor, employees or directors of the Alternative Investment Fund or employees or directors of the Manager) is....

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....nt Funds;" VI. In clause (d), of sub-regulation (1) of regulation 15, i. the symbol ";" shall be substituted by the symbol ":" ii. the following proviso shall be inserted, namely, - "Provided that large value funds for accredited investors of Category III may invest up to twenty percent of the investable funds in an investee company directly or through investment in units of other Alternative Investment Funds;" AJAY TYAGI, Chairman [ADVT.-III/4/Exty./178/2021-22] Footnote: 1. The Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 were published in the Gazette of India on May 21, 2012 vide No. SEBI/LAD-NRO/GN/2012- 13/04/11262. 2. The Securities and Exchange Board of India (Alternative Inv....