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

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....rd hereby makes the following 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 agen....

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....ds set up by the Central Government or the State Governments, qualified institutional buyers as defined under the Securities and 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 in....

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....rted, namely, - "Provided that large value funds for accredited investors of Category I and II may invest up to fifty percent of the investable funds in an investee company directly or through investment in the units of other Alternative Investment 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....