Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2024

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....s 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, 2024. 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 regulation 15, in sub-regulation (1), after clause (h), the following new clause shall be inserted, namely, - "(i) Alternative Investment Funds shall hold their investments in dematerialised form, subject to such conditions as may be specified by the Board from time to time: Provided that the requirement under clau....

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.... of the Sponsor or Manager of an Alternative Investment Fund may act as a custodian for that Alternative Investment Fund only when all the following conditions are met: (a) the Sponsor or Manager has a net worth of at least twenty thousand crore rupees at all points of time; (b) fifty per cent or more of the directors of the Custodian do not represent the interest of the Sponsor or Manager or their associates; (c) the Custodian and the Sponsor or Manager of the Alternative Investment Fund are not subsidiaries of each other; (d) the custodian and the Sponsor or Manager of the Alternative Investment Fund do not have common directors; and (e) the Custodian and the Manager of the Alternative Investment Fund sign an undertaking that th....

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....17/037. (g) 1st June, 2018 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2018 vide No. SEBI/LAD/NRO/GN/2018/19. (h) 10th May, 2019 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2019 vide No. SEBI/LAD/NRO/GN/2019/16. (i) 17th April, 2020 by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/2020/10. (j) 19th October, 2020 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2020 vide No. SEBI/LAD/NRO/GN/2020/37. (k) 8th January, 2021 by the Securities and Exchange Board of India (Alternative Investment Fund....