TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Portfolio Managers) (Fourth Amendment) Regulations, 2021
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....on (1), a. after clause (ab), the following clause shall be inserted, namely, - "(ac) "Alternative Investment Fund" shall have the same meaning as assigned to it in clause (b) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012;" b. after clause (f), the following clause shall be inserted, namely, - "(fa) "Co-investment Portfolio Manager" means a Portfolio Manager who is a Manager of a Category I or Category II Alternative Investment Fund(s); and: (i) provides services only to the investors of such Category I or Category II Alternative Investment Fund(s); and (ii) makes investment only in unlisted securities of investee companies where such Category I or Category II Alternative Investment Fund(s) make investments: Provided that the Co-investment Portfolio Manager may provide services to investors from any other Category I or Category II Alternative Investment Fund(s) which are managed by them and are also sponsored by the same Sponsor(s);" c. after clause (la), the following clauses shall be inserted, ....
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....uirement under this regulation shall not apply to the Co-investment Portfolio Manager". IV. In regulation 11, i. in clause (e), a. the symbol "." shall be substituted with the symbol ":". b. the following proviso shall be inserted, namely,- "Provided that the requirement under clause(e) shall not apply to Co-investment Portfolio Manager. V. In regulation 22, i. in sub-regulation (2), the following provisos shall be inserted, namely,- "Provided that in case of the Co-investment Portfolio Manager, the terms of co-investment in an investee company by a co-investor, shall not be more favourable than the terms of investment of the Alternative Investment Fund: Provided further that in case of the Co-investment Portfolio Manager, the terms of exit from the Co-investment in an investee company including the timing of exit shall be identical to the terms applicable to that of exit of the Alternative Investment Fund: Provided further that in case of the Co-investment Portfolio Manager, the early withdrawal of funds by the co-investors with respect to Co-investment in i....
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.... IX. In the proviso to sub-regulation (1) of regulation 34, i. the symbol "." shall be substituted with the symbol ":" ii. after the first proviso, the following proviso shall be inserted, namely,- "Provided further that in case of the Co-investment Portfolio Manager, the role of compliance officer may be assigned to the principal officer appointed in terms of clause (d) of sub-regulation (2) of regulation 7." X. FORM A of SCHEDULE 1 shall be substituted with the following, namely,- "FORM A Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 Application for grant of certificate of registration Name of Applicant: (Name of Manager of Alternative Investment Fund in case applicant ------------------------------------ is offering Co-investment services only) Name of Contact Person: (Note: Compliance Officer / Principal Officer only) --------------------------------- Designation of Contact Person: -------------------------------- Mobile No: ------------------------------- Email: ------------------------------------ Instructions: 1. Applicants shall submit a complete....
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.... of PAN Card); Telephone No.; Mobile; Email] Experience: Entity Name Designation Area of Work Nature of Work Experience (In yrs) (Separate sheet may be attached for information on work experience) Other Directorships/Partnerships; (Name and Date of Appointment); Entity Name Date of Appointment No. of Shares Percentage of Shareholding 2.6 Particulars of Key Management Personnel [Name; Address; Qualification; Designation; Date of Appointment; PAN no. (Certified PAN Copy); Telephone No.; Mobile; Email] Experience: Entity Name Designation Area of Work Nature of Work Experience (In yrs) (Separate sheet may be attached for information on work experience) Other directorship details: Name of the Entity Date of Appointment No. of Shares Percentage of Shareholding Following documents to be provided: 1. Declaration that the personnel mentioned above is currently employed with ....
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....al number of employees and number of employees for Portfolio Management services) 2.12 Name and activities of associate companies/ entities Name of company /entity Address/ phone numbers Type of activity handled Nature / Quantum of financial dealing Nature of interest of promoter /director Nature of interest of applicant company/ entity Ownership details: Name of the Shareholder No. of Shares Percentage of Shareholding Details of Registration with SEBI or any other Govt. Regulatory Body: Name of Regulator Registration No. Registration Start Date Registration End Date Registration Status Details of Action Taken in past (if any) 2.13 List of major shareholders/ partners of the Applicant (holding 5% or more voting rights): [Name; Type; Address; Telephone No.; Mobile; Email; Share holding pattern/ partnership interest/ voting rights as on Date] 3.0 DETAILS OF INFRASTRUCTURAL FACILITIES 3.1 Principal P....
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....he preceding year of current year Preceding year Current Year 5.6 Particulars of Principal Banks: Name, Contact Person; Address; Telephone No.; Mobile; Email 5.7 Particulars of Auditors: Name; Type (Internal/ External); Contact Person; Address; Telephone No.; Mobile; Email 5.8 Declaration of submission of Banker's Report from two Banks 6.0 OTHER INFORMATION 6.1 Details of all settled and pending disputes of previous 3 years: Nature of dispute Name of the party Status (Pending/ settled) Dispute Details 6.2 Indictment of involvement in any economic offences in the last three years. 6.3 Any other information considered relevant to the nature of services rendered by the company. 6.4 Details of Membership with the recognized Stock Exchanges: a. If the applicant / any of the Directors of the applicant, its subsidiary / associate / group company under the same management, are members of recognized stock exchanges? b. Broker Registration Number c. Details regarding payment of fees to SEBI d. Whether the member is faci....
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....on 27 - regarding maintenance of records for Investment rationale. 10.9. Declaration of availability of Disclosure document on website of Portfolio Manager. "Provided that this sub-clause shall not apply in case of applicant offering only Co-investment services." 10.10. In case of applicant offering Co-investment services only, declaration stating that the applicant is a Manager of a Category I or Category II Alternative Investment Fund(s). DECLARATION This declaration must be signed by two directors/designated partners _____________________________________________________________________________ I/We hereby, apply for Registration as Portfolio Manager. I/We do hereby declare that I/We have truthfully and fully answered the questions above and provided all the information which might reasonably be considered relevant for the purposes of my/our registration. For and on behalf of __________________________________________________________________________ (Name of Applicant) ______________ _________________ Director/Designated Partner  ....