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TMI BlogConditions for Category II Alternative Investment FundsX X X X Extracts X X X X X X X X Extracts X X X X ..... e Investment Funds; ] 3 [ **** ] 8 [ (c) Category II Alternative Investment Funds shall not borrow funds directly or indirectly or engage in any leverage for the purpose of making investments or otherwise, except for borrowing funds to meet temporary funding requirements and day-to-day operational requirements for not more than thirty days, on not more than four occasions in a year and not more than ten percent of the investable funds and subject to such conditions as may be specified by the Board from time to time: Provided that Category II Alternative Investment Funds may create encumbrance on equity of investee company, which is in the business of development, operation or management of projects in any of the infrastructure sub-sectors l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investee company is listed; (ii) such investment shall be locked in for a period of one year from the date of investment. ] ************** NOTES:- 1 Substituted by the SEBI (Alternative Investment Fund) (Amendment) Regulations, 2013, w.e.f 16-09-2013 for the word corpus 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/21 dated 05-05-2021 before it was read as, (a) Category II Alternative Investment Funds shall invest primarily in unlisted investee companies or in units of other Alternative Investment Funds as may be specified in the placement memorandum; 3. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/21 dated 05-05-2021 before it was read as, (b) Fund of Category II Alternative Investment Funds may invest in units of Catego ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... engage in leverage except for meeting temporary funding requirements for not more than thirty days, not more than four occasions in a year and not more than ten percent of the 1 [investable funds]; 7 [ Provided that Category II Alternative Investment Funds may create encumbrance on equity of investee company, which is in the business of development, operation or management of projects in any of the infrastructure sub-sectors listed in the Harmonised Master List of Infrastructure issued by the Central Government, only for the purpose of borrowing by such investee company and subject to such conditions as may be specified by the Board from time to time. ] - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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