Regulation 9B - Collective Investment Management Company - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

1 [ 9B (1) No Collective Investment Management Company or a promoter of a Collective Investment Management Company, their associates or group companies, through the schemes of the Collective Investment Management Company or otherwise, individually or collectively, directly or indirectly, have (a) ten percent or more of the shareholding or voting rights in the Collective Investment Management Company or the trustee company of any other Collective Investment Management Company; or (b) representation on the board of the Collective Investment Management Company or the trustee company of any other Collective Investment Management Company. (2) Any shareholder holding ten percent or more of the shareholding or voting rights in the Collective Investment Management Company or the trustee company of a Collective Investment Management Company, shall not have, directly or indirectly,- (a) ten percent or more of the shareholding or voting rights in the Collective Investment Management Company or the trustee company of any other Collective Investment Management Company; or (b) representation on the board of the Collective Investment Management Company or the trustee company of any other Collective Investment Management Company: Provided that in the event of a merger, acquisition, scheme of arrangement or any other arrangement involving the promoters of the Collective Investment Management Company, shareholders of the Collective Investment Management Company or trustee companies, their associates or group companies which results in the incidental acquisition of shares, voting rights or representation on the board of the Collective Investment Management Company or trustee companies, this regulation shall be complied with within a period of one year of coming into force of such an arrangement. ] ************* NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/84 dated 10-05-2022