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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 registration of AIFs and launch of new schemes, ithas been observed that the Manager of AIF often proposes to set up an Investment Committee with the mandate to provide investment recommendations or advi
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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.
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Source : https://www.sebi.gov.in/legal/circulars/oct-2020/processing-of-applications-for-registrations-of-aifs-and-launch-of-schemes_47956.html