TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Alternative Investment Funds) (Third Amendment) Regulations, 2022
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....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, 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 sub-regulation (1) of regulation 2, i. After clause (q), the following clause (qa) shall be inserted, namely, - "(qa) "not for profit organization" shall have the same meaning as assigned to it in clause (e) of regulation 292A of the Securities and Exchange B....
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....cial impact fund or schemes of a social impact fund may also issue social units;" ii. in clause (b), a. the symbol ";" shall be substituted with the symbol ":". b. after clause (b), the following proviso shall be inserted, namely,- "Provided that each scheme of the social impact fund shall have a corpus of at least five crore rupees;" iii. in clause (c), a. in the second proviso, the symbol ";" shall be substituted with the symbol ":". b. after the second proviso, the following proviso shall be inserted, namely,- "Provided further that in case of a social impact fund which invests only in securities of not for profit organizations registered or listed on a social stock exchange, the minimum value of investment by an individu....
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....use (d) shall be omitted. vii. in the FIRST SCHEDULE-FORM, in FORM A, in paragraph 1, in clause (e), in sub-clause (2), the word "Venture" shall be substituted with the word "Impact". MADHABI PURI BUCH, Chairman [ADVT.-III/4/Exty./193/2022-23] 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 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/ 2013-14/2....