Regulation 13 - Restrictions on business activities - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

CHAPTER III BUSINESS ACTIVITIES AND OBLIGATIONS OF COLLECTIVE INVESTMENT MANAGEMENT COMPANY Restrictions on business activities 13. The Collective Investment Management Company shall not : a) undertake any activity other than that of managing the 1 [collective investment scheme]; b) act as a trustee of any 2 [collective investment scheme]; c) launch any 3 [collective investment scheme] for the purpose of investing in securities; d) invest in any 4 [collective investment scheme] floated by it. Provided that a Collective Investment Management Company may invest in its own 5 [collective investment scheme], (i) if it makes a disclosure of its intention to invest in the offer document of the 6 [collective investment scheme], and (ii) does not charge any fees on its investment in that 7 [collective investment scheme]. ************** NOTES:- 1 Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014, w.e.f. 9-1-2014. 2 ibid. 3 Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014, w.e.f. 9-1-2014. 4 ibid. 5 ibid. 6 ibid. 7 ibid.