The Securities and Exchange Board of India (SEBI) on November 18, 2024, notified the Securities and Exchange Board of India (Alternative Investment Funds) (Fifth Amendment) Regulations, 2024 further amend the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.
The following has been stated: -
•In regulation 19B, in sub-regulation (2), after the words “sub-regulation (2) of regulation 16,” and before the words “and the guidelines and circulars”, the words “sub-regulation (21) of regulation 20” shall be inserted.
•In regulation 20, after sub-regulation 20, the following sub-regulations shall be inserted namely, (21) The investors of a scheme of an Alternative Investment Fund shall have rights, pro-rata to their commitment to the scheme, in each investment of the scheme and in the distribution of proceeds of such investment, except as may be specified by the Board from time to time.
They shall come into force on November 18, 2024.
The detailed notification is given in the document below.
[Notification No. SEBI/LAD-NRO/GN/2024/209]
