AP HC: Shutdown of Specific Unit Constitutes Closure, Workers Entitled to Compensation under S.25FFF  ||  P&H High Court: Over-Implication of Accused’s Relatives Turns Criminal Process Into Harassment  ||  Delhi HC: Denying Candidature of Physically Disabled Person Due to 'No Vacancy' Violates RPwD Act  ||  Delhi HC: Denying Candidature of Physically Disabled Person Due to 'No Vacancy' Violates RPwD Act  ||  Delhi HC: Denying Candidature of Physically Disabled Person Due to 'No Vacancy' Violates RPwD Act  ||  HP High Court: Possession of Intermediate Quantity of Opium Poppy Not Punishable under S.37 NDPS Act  ||  Delhi HC: Caste Abuse on Flyover Counts as 'Public View' Under SC/ST Act Even Without Witnesses  ||  Kerala High Court: Limitation Period Starts From Date Continuous Breach of Contract Comes to an End  ||  Delhi High Court: Renting or Leasing Residential Property for Residential Use Exempt from GST  ||  Delhi High Court: Banks Cannot Be Accused of Defamation, Calling a Company 'Fraud' Not Defamatory    

Conditions for Investment in Alternative Investment Fund- (Insurance Regulatory and Development Authority) (05 Apr 2021)

MANU/IRDA/0040/2021

Insurance

Point 1.5 of Investment-Master Circular, 2017 specifies the conditions applicable for Insurers Investment in Alternative Investment Fund (AIF). The following shall replace the provisions applicable for Fund of Funds (FoF) mentioned in 1.5.3:

1.5.3 (a) No investment is permitted into AIFs which undertake leverage or borrowing other than to meet day-to-day operational requirements and as permitted under SEBI (Alternative Investment Funds) Regulations, 2012.

(b) Insurer shall invest only into Fund of Funds (FoF) which comply requirement of Section 27E of the Insurance Act, 1938.

(c) Insurer shall ensure compliance with Section 27E by a clause in the Fund Offer Documents executed by FoF to restrain such FoF investing into AIFs which invest in overseas companies/funds.

(d) No Insurer shall invest in an AIF, which in turn has exposure to a FoF, in which the Insurer has taken an exposure.

(e) The Insurer on a quarterly basis, obtain a certificate issued by the Concurrent Auditor on the compliance of the above conditions and file the same along with quarterly periodical returns.

Tags : INVESTMENT   AIF   CONDITIONS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved