Amendment of Regulations

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..... ture capital fund" and before the words "and", the words ", Alternative Investment Fund" shall be inserted; (ii) In regulation 37, in the proviso, clause (b) shall be substituted with the following namely, - "(b) equity shares held by a venture capital fund or alternative investment fund of category I or a foreign venture capital investor: Provided that such equity shares shall be locked in for .....

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..... undertaking" means a venture capital undertaking as defined under clause(aa) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012." (c) In sub-regulation (2), after the words "Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996" the words and numbers "or Securities and Exchange Board of .....

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..... s and Takeover) Regulations, 2011. (i) In regulation 2, in sub-regulation (1), in clause (q),in sub-clause (2) after item (viii) the following new item shall be inserted namely, - "(viiia) an alternative investment fund and its sponsor, trustees, trustee company and manager;" (ii) In regulation 10, in sub-regulation (4), in clause (f) the words "venture capital fund" wherever occurring shall b .....

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