MANU/SREG/0014/2022
Ministry : Securities and Exchange Board of India
Department/Board : Legal Affairs Department
Notification No. : SEBI/LAD-NRO/GN/2022/75
Date of Notification : 16.03.2022
Date of Publication : 16.03.2022
Notification/ Circulars Referred :
No. SEBI/LAD-NRO/GN/2012-13/04/11262 MANU/SREG/0023/2012;No. LAD-NRO/GN/ 2013-14/24/6573 MANU/SREG/0044/2013;No.
LAD-NRO/GN/2014-15/03/1089 MANU/SREG/0020/2014;No. LAD-NRO/GN/2014-15/11/1576 MANU/SREG/0032/2014;No. SEBI/LAD-NRO/GN/2015-16/011 MANU/SREG/0020/2015;No. SEBI/LAD/NRO/GN/2016-17/026 MANU/SREG/0002/2017;No. SEBI/LAD/NRO/GN/2016-17/037 MANU/SREG/0011/2017;No. SEBI/LAD/NRO/GN/2018/19 MANU/SREG/0020/2018;No. SEBI/LAD/NRO/GN/2019/16 MANU/SREG/0018/2019;No. SEBI/LAD-NRO/GN/2020/10 MANU/SREG/0024/2020;No. SEBI/LAD/NRO/GN/2020/37 MANU/SREG/0044/2020;No. SEBI/LAD/NRO/GN/2021/01 MANU/SREG/0001/2021;No SEBI/LAD-NRO/GN/2021/21 MANU/SREG/0026/2021;No. SEBI/LAD-NRO/GN/2021/30 MANU/SREG/0038/2021;No. SEBI/LAD-NRO/GN/2021/33 MANU/SREG/0041/2021;No. SEBI/LAD-NRO/GN/2021/41 MANU/SREG/0048/2021;No. SEBI/LAD-NRO/GN/2021/57 MANU/SREG/0065/2021;No. SEBI/LAD-NRO/GN/2022/68 MANU/SREG/0007/2022
Citing Reference:
No. SEBI/LAD-NRO/GN/2012-13/04/11262 MANU/SREG/0023/2012 Referred
No. LAD-NRO/GN/ 2013-14/24/6573 MANU/SREG/0044/2013 Referred
No. LAD-NRO/GN/2014-15/03/1089 MANU/SREG/0020/2014 Referred
No. LAD-NRO/GN/2014-15/11/1576 MANU/SREG/0032/2014 Referred
No. SEBI/LAD-NRO/GN/2015-16/011 MANU/SREG/0020/2015 Referred
No. SEBI/LAD/NRO/GN/2016-17/026 MANU/SREG/0002/2017 Referred
No. SEBI/LAD/NRO/GN/2016-17/037 MANU/SREG/0011/2017 Referred
No. SEBI/LAD/NRO/GN/2018/19 MANU/SREG/0020/2018 Referred
No. SEBI/LAD/NRO/GN/2019/16 MANU/SREG/0018/2019 Referred
No. SEBI/LAD-NRO/GN/2020/10 MANU/SREG/0024/2020 Referred
No. SEBI/LAD/NRO/GN/2020/37 MANU/SREG/0044/2020 Referred
No. SEBI/LAD/NRO/GN/2021/01 MANU/SREG/0001/2021 Referred
No SEBI/LAD-NRO/GN/2021/21 MANU/SREG/0026/2021 Referred
No. SEBI/LAD-NRO/GN/2021/30 MANU/SREG/0038/2021 Referred
No. SEBI/LAD-NRO/GN/2021/33 MANU/SREG/0041/2021 Referred
No. SEBI/LAD-NRO/GN/2021/41 MANU/SREG/0048/2021 Referred
No. SEBI/LAD-NRO/GN/2021/57 MANU/SREG/0065/2021 Referred
No. SEBI/LAD-NRO/GN/2022/68 MANU/SREG/0007/2022 Referred
Securities And Exchange Board Of India (Alternative Investment Funds) (Second Amendment) Regulations, 2022
No. SEBI/LAD-NRO/GN/2022/75.--In exercise of the powers conferred by sub-section (1) of Section 30 read with sub-section (1) of Section 11, clause (ba) and clause (c) of sub-section (2) of Section 11 and sub-section (1) and (1B) of Section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby 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) (Second 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. clause (d) of sub-regulation (1) of regulation 15 shall be substituted with the following clause, namely,-
"(d) Category III Alternative Investment Funds shall invest not more than ten per cent of the investable funds in an Investee Company, directly or through investment in units of other Alternative Investment Funds and the large value funds for accredited investors of Category III Alternative Investment Funds may invest up to twenty per cent of the investable funds in an Investee Company, directly or through investment in units of other Alternative Investment Funds:
Provided that for investment in listed equity of an Investee Company, Category III
Alternative Investment Funds may calculate the investment limit of ten per cent of either
the investable funds or the net asset value of the scheme and large value funds for
accredited investors of Category III Alternative Investment Funds may calculate the
investment limit of twenty per cent of either the investable funds or the net asset value of
the scheme, subject to the conditions specified by the Board from time to time."
MADHABI PURI BUCH, Chairman
[ADVT.-III/4/Exty./692/2021-22]
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/ 2013-14/24/6573.
(2) 23rd May, 2014 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2014 vide
No.
LAD-NRO/GN/2014-15/03/1089.
(3) 26th September, 2014 by the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 vide No. LAD-NRO/GN/2014-15/11/1576.
(4) 14th August, 2015 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2015 vide No. SEBI/LAD-NRO/GN/2015-16/011.
(5) 4th January, 2017 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2016 vide No. SEBI/LAD/NRO/GN/2016-17/026.
(6) 6th March, 2017 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017 vide No. SEBI/LAD/NRO/GN/2016-17/037.
(7) 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.
(8) 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.
(9) 17th April, 2020 by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/2020/10.
(10) 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.
(11) 8th January, 2021 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2021 vide No. SEBI/LAD/NRO/GN/2021/01.
(12) 5th May, 2021 by the Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2021 vide No SEBI/LAD-NRO/GN/2021/21.
(13) 3rd August, 2021 by the (Regulatory Sandbox) (Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/30.
(14) 3rd August, 2021 by the Securities and Exchange Board of India (Alternative Investment Funds) (Third Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/33.
(15) 13th August, 2021 by the Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/41
(16) 9th November, 2021 by the Securities and Exchange Board of India (Alternative Investment Funds) (Fifth Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/57.
(17) 24th January, 2022 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/68.