Processing of applications for registrations of AIFs and launch of schemes

Last updated: 23 October 2020

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The Securities and Exchange Board of India (SEBI) has amended regulations concerning the processing of applications for registering Alternative Investment Funds (AIFs) and launching new schemes. A key change allows AIF Managers to form Investment Committees to approve investment decisions, subject to specific conditions. This circular clarifies how applications will be processed, particularly those involving external members on the Investment Committee.

Securities and Exchange Board of India CIRCULAR SEBI/HO/IMD/DF6/CIR/P/2020/209 October 22, 2020 To, All Alternative Investment Funds (AIFs) Dear Sir/ Madam, Sub: Processing of applications for registrations of AIFs and launch of schemes 1 While processing applications for reg

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FAQ :

The circular concerns the processing of applications for the registration of Alternative Investment Funds (AIFs) and the launch of new schemes.

SEBI regulations have been amended to allow AIF Managers to constitute an Investment Committee to approve investment decisions, subject to certain conditions.

Applications where the Investment Committee includes external members who are resident Indian citizens will be duly processed.

These applications will only be considered after SEBI receives clarification regarding the applicability of Schedule VIII under FEM (Non-debt Instruments) Rules, 2019.

The amendment to the AIF Regulations was notified on October 19, 2020, and is available via a provided link.