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TMI BlogSecurities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2024X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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, 2024. 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. In regulation 2, in sub-regulation (1), i) after clause (i), the following new clauses shall be inserted, namely, - "(ia) "dissolution period" means the period following the expiry of the liquidation period of the scheme for the purpose of liquidating the un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egulation 20, after sub-regulation (19), the following new sub-regulation (20) shall be inserted, namely, - "(20) Every Alternative Investment Fund, Manager of the Alternative Investment Fund and Key Management Personnel of the Manager and the Alternative Investment Fund shall exercise specific due diligence, with respect to their investors and investments, to prevent facilitation of circumvention of such laws, as may be specified by the Board from time to time. Explanation: "laws" shall include Acts, Rules, Regulations, Guidelines or circulars framed thereunder that are administered by a financial sector regulator, including those administered by the Board." V. In regulation 29, i) In sub-regulation (9), the words "sell such invest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tification of the Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2024: Provided that any liquidation scheme launched by an Alternative Investment Fund prior to the notification of the Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2024 shall continue to be governed by regulation 29A and the other provisions of these regulations till such schemes are wound up." VII. After regulation 29A and before regulation 30, the following regulation shall be inserted, namely,- "Dissolution Period. 29B. (1) A scheme of an Alternative Investment Fund may enter into a dissolution period in the manner and subject to such conditions as may be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2015 vide No. SEBI/LAD-NRO/GN/2015-16/011. (e) 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. (f) 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. (g) 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. (h) 10th May, 2019 by the Securities and Exchange Board of India (Alternative Investment Funds) (A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/68. (r) 16th March, 2022 by the Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/75. (s) 25th July, 2022 by the Securities and Exchange Board of India (Alternative Investment Funds) (Third Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/89. (t) 15th November 2022, by the Securities and Exchange Board of India (Alternative Investment Funds) (Fourth Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/105. (u) 9th January 2023, by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2023 vide No. SEBI/LAD-NRO/GN/2023/113. (v) 18th January 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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