Regulation 49L - Definitions. - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

1 [CHAPTER VI -B INFRASTRUCTURE DEBT FUND SCHEMES Definitions . 49L. For the purposes of this Chapter, unless the context otherwise requires- (1) Infrastructure debt fund scheme means a mutual fund scheme that invests primarily (minimum 90% of scheme assets) in the debt securities or securitized debt instrument of infrastructure companies or infrastructure capital companies or infrastructure projects or special purpose vehicles which are created for the purpose of facilitating or promoting investment in infrastructure, and other permissible assets in accordance with these regulations or bank loans in respect of completed and revenue generating projects of infrastructure companies or projects or special purpose vehicles. (2) Infrastructure includes the sectors as specified by guidelines issued by the Board or as notified by Ministry of Finance, from time to time. (3) Strategic Investor means; (i) an Infrastructure Finance Company registered with Reserve bank of India as Non Banking Financial Company; (ii) a Scheduled Commercial Bank; (iii) International Multilateral Financial Institution; 2 [(iv) Systemically Important Non Banking Financial Companies registered with Reserve Bank of India; (v) Foreign Institutional Investors registered with the Board, subject to their applicable investment limits, which are long term investors in terms of the norms specified by SEBI.] ] ************* NOTES:- 1 Chapter VI-B consisting of sections 49L to 49T, inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 2011, w.e.f. 30-8-2011. 2 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 2013, w.e.f. 16-4-2013.