Procedure for investment fund for availing benefit under section 9(12) read with Schedule I to Act

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.... a country or specified territory with which an agreement referred to in section 159 has been entered into or is established or incorporated, or registered in a country or a specified territory notified by the Central Government in this behalf. (2) A fund shall not be denied the benefit of being an eligible fund for the purposes of Schedule I to the Act, if, - (a) non-fulfilment of any of the conditions specified in paragraphs 1(1)(c), (d) and (e) of the Schedule I to the Act, - (i) is for reasons beyond the control of the fund and it does not exceed a period of ninety days; or (ii) does not exceed a period of eighteen months, beginning from the date on which the fund is setup or is not beyond the final closing....

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.... (b) in other cases, the amount of remuneration, shall be - (i) 0.30% of the asset under management; or (ii) 10% of profits derived by the fund in excess of the specified hurdle rate from the fund management activity undertaken by the fund manager, where it is entitled only to remuneration linked to the income or profits derived by the fund; or (iii) 50% of the management fee, whether in the nature of fixed charge or linked to the income or profits derived by the fund from the management activity undertaken by the fund manager, paid by such fund in respect of the fund management activity undertaken by the fund manager, as reduced by the amount incurred towards operational expenses including distribution expen....