Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2022

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.... 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) (Amendment) Regulations, 2022. 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 clause (a) of sub-regulation (4) of regulation 3, after the words "infrastructure funds" and before the words "and such other", the words and symbol ", special situation funds" shall be inserted. II. In regulation 12, i. in su....

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.... terms of Clause 58 of the Master Direction - Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021 as amended from time to time or as part of a resolution plan approved under the Insolvency and Bankruptcy Code, 2016 or in terms of any other policy of the Reserve Bank of India or Government of India issued in this regard from time to time; (ii) against whose borrowings, security receipts have been issued by an Asset Reconstruction Company registered with the Reserve Bank of India; (iii) whose borrowings are subject to corporate insolvency resolution process under Chapter II of the Insolvency and Bankruptcy Code, 2016; (iv) who have disclosed all the defaults relating to the payment of interest/ repay....

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....res or is repugnant to the provisions of this Chapter, shall apply to the special situation funds, the schemes of special situation funds and their sponsors and managers. Registration of special situation funds. 19K. An applicant may apply for registration as a special situation fund in accordance with the provisions of Chapter II of these Regulations. Investment in special situation funds. 19L. (1) Each scheme of a special situation fund shall have a corpus as may be specified by the Board. (2) The special situation fund shall accept from an investor, an investment of such value as may be specified by the Board. (3) The special situation fund shall not accept investments from any other ....

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....ve Investment Fund-Other 7. Category II Alternative Investment Fund 8. Category III Alternative Investment Fund" AJAY TYAGI, Chairman [ADVT.-III/4/Exty./601/2021-22] Footnotes: 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 Investment Funds) Regulations, 2012 were subsequently amended on, - (1) 16th September, 2013 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2013 vide No. LAD-NRO/GN/2013-14/24/6573. (2) 23rd May, 2014 by the Securi....