SEBI (Alternative Investment Funds) (Amendment) Regulations, 2019

May 13, 2019 | by Avantis RegTech Legal Research Team


The Securities and Exchange Board of India (SEBI) on May 10, 2019, has published SEBI (Alternative Investment Funds) (Amendment) Regulations, 2019 to further amend the SEBI (Alternative Investment Funds) Regulations, 2012. It will come into force on the date of their publication in the Official Gazette that is on May 10, 2019. 

The amendments made in the SEBI (Alternative Investment Funds) Regulations, 2012 are:

In Regulation 2(1), a sub-clause (ha) and (ka) has been inserted specifying the definition of “custodian” and “goods”.

In Regulation 18, which talks about the “conditions for Category III Alternative Investment Funds”, a sub-clause (aa) has been inserted specifying that Category III Alternative Investment Funds may deal in goods received in delivery against physical settlement of commodity derivatives.

In Regulation 20(2), which talks about the “General obligations”, a proviso has been inserted specifying that the custodian appointed by Category III Alternative Investment Fund shall keep custody of securities and goods received in delivery against physical settlement of commodity derivatives.

[Notification No. SEBI/LAD-NRO/GN/2019/16]

Click here to download the Notification.

 


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