TMI BlogRegistration of Alternative Investment FundsX X X X Extracts X X X X X X X X Extracts X X X X ..... or if it has made an application for registration under sub-regulation (5) within the said period of six months, till the disposal of such application: Provided further that the Board may, in special cases, extend the said period up to a maximum of twelve months from the date of such commencement: Provided further that existing schemes will be allowed to complete their agreed tenure, such funds shall not raise any fresh monies other than commitments already made till registration is granted under regulation 6: 1 [Provided further that such existing funds, which do not propose to accept any fresh commitments after commencement of these regulations shall not be required to obtain registration under these regulations subject to su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s thereof: (a) Category I Alternative Investment Fund which invests in start-up or early stage ventures or social ventures or SMEs or infrastructure or other sectors or areas which the government or regulators consider as socially or economically desirable and shall include venture capital funds, SME Funds, 3 [ social impact funds ] , infrastructure funds 2 [ , special situation funds ] and such other Alternative Investment Funds as may be specified; Explanation.─ For the purpose of this clause, Alternative Investment Funds which are generally perceived to have positive spillover effects on economy and for which the Board or Government of India or other regulators in India might consider providing incentives or concession ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regulations and shall be accompanied by a non-refundable application fee as specified in Part A of the Second Schedule to these regulations to be paid in the manner specified in Part B thereof. (6) The Board shall take into account requirements as specified in these regulations for the purpose of considering grant of registration. (7) Without prejudice to the powers of the Board to take any action under the Act or regulations made there under, the certificate of registration shall be valid till the Alternative Investment Fund is wound up. (8) The Board may, in the interest of the investors, issue directions with regard to the transfer of records, documents or securities or disposal of investments relating to its activities as an Al ..... X X X X Extracts X X X X X X X X Extracts X X X X
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