Regulation 49N - Eligibility criteria for launching infrastructure debt fund scheme - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

1 [Eligibility criteria for launching infrastructure debt fund scheme 49N. (1) An existing mutual fund may launch an infrastructure debt fund schemes if it has an adequate number of key personnel having adequate experience in infrastructure sector. (2) A certificate of registration may be granted under regulation 9 to an applicant proposing to launch only infrastructure debt fund schemes if the sponsor or the parent company of the sponsor: - (a) has been carrying on activities or business in infrastructure financing sector for a period of not less than five years; (b) fulfills eligibility criteria provided in Regulation 7. Explanation- For the purpose of this clause, parent company of the sponsor shall mean a company which holds at least 75% of paid up equity share capital of the sponsor. ] ************** 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.