Securities And Exchange Board Of India (Venture Capital Funds) (Amendment) Regulations, 2006. - S.O. No.93(E) - SEBI/LAD/DOP/25615/2006 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 25th January, 2006 S.O. No.93(E). In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, namely: - 1. (i) These Regulations may be called the Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2006. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In the Securities and Exchange Board of India (Venture Capital Funds) Regulation, 1996: - (i) In regulation 2, - after clause (m), clause (ma) be inserted- (ma) a foreign company means a foreign company within the meaning of section 591 of the Companies Act, 1956. (ii) In regulation 12, after clause (b), the following clause, shall be inserted, namely (ba) venture capital fund may invest in securities of foreign companies subject to such conditions or guidelines that may be stipulated or issued by the Reserve Bank of India and the Board from time to time. M. DAMODARAN, Chairman F.No. SEBI/LAD/DOP/25615/2006 Foot notes (1) The Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, the Principal Regulations were published in the Gazette of India on December 4, 1996 vide S.O. No.850(E). (2) The Regulations were subsequently amended: (a) On January 5, 1998 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 1998 vide S.O. No.19 (E). (b) On November 17, 1999 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 1999 vide S.O. No.1118 (E). (c) On September 15, 2000 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 2000 vide S.O. No.831 (E). (d) On September 27, 2002 by the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide S.O. No.1045 (E). [e] On April 5, 2004 Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2004 vide S.O. No. 468 (E).