Regulation 6 - Procedure for grant of Certificate - Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012

Procedure for grant of Certificate. 6. (1) The Board may grant certificate under any specific category of Alternative Investment Fund, if it is satisfied that the applicant fulfills the requirements as specified in these regulations. (2) The Board shall, on receipt of the registration fee as specified in the Second Schedule, grant a certificate of registration in Form B. (3) The registration may be granted with such conditions as may be deemed appropriate by the Board. 1 [(4) The Board may, on being satisfied that the applicant complies with the provisions of regulation 4 except those of clause (c) or clause (d) thereof, as the case may be, grant an in-principle approval to the applicant: Provided that the applicant shall comply with clause (c) or clause (d) of regulation 4, as the case may be, within six months from the date of grant of in-principle approval and upon compliance with the same, the Board may grant a certificate of registration under sub-regulation (2). (5) An Alternative Investment Fund that has been granted in-principle approval may accept commitments from investors but shall not accept any monies till it is granted registration under sub-regulation (2) of this regulation.] *************** NOTES:- 1 Inserted by the SEBI (Alternative Investment Funds) (Amendment) Regulations, 2013, w.e.f.16-09-2013