Regulation 68 - Existing collective investment schemes to obtain provisional registration - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

CHAPTER IX EXISTING COLLECTIVE INVESTMENT SCHEMES Existing 1 [collective investment scheme]s to obtain provisional registration 68. (1) Any person who has been operating a collective investment scheme at the time of commencement of these regulations shall be deemed to be an existing collective investment scheme and shall also comply with the provisions of this Chapter. Explanation : The expression operating a collective investment scheme shall include carrying out the obligations undertaken in the various documents entered into with the investors who have subscribed to the 2 [collective investment scheme]. (2) An existing collective investment scheme shall make an application to the Board in the manner specified in regulation 5. (3) The application made under sub-regulation (2) shall be dealt with in any of the following manner: (a) by grant of provisional registration by the Board under sub-regulation (1) of regulation 71; (b) by grant of a certificate of registration by the Board under regulation 10; (c) by rejection of the application for registration by the Board under regulation 12. *************** NOTES:- 1 Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014, w.e.f. 9-1-2014. 2 ibid.