Experts by SEBI to Examine Feasibility of SPACs

Current Context: The Securities Exchange Board of India (SEBI) has constituted a committee of experts to examine the feasibility in order to implement Special Purpose Acquisition Companies (SPACs).

• The committee is set up under SEBI’s Primary Market Advisory Committee (PMAC).
• The main moto to examine SPACs is to boost the funds in an initial public offering (IPO), which will be used to identify and merge with the target company.
• The expert group is set up to explore the potential of SPACs and building adequate checks and balances in the regulatory framework by taking care of associated risks.
• SPACs: These are the blank cheque companies that are not having any business plan while seeking investor money. The Private equity funds or financial institution having expertise in a particular industry with investment for working capital and issue related expenses can become SPACs.
• Static Part: 
• HQ of SEBI: Mumbai
• Chairman of SEBI: Ajay Tyagi

Question: 

Q.1 SEBI has set up a group of experts to examine the feasibility in order to implement SPACs. What does ‘A’ signifies in SPACs?
a. Advanced
b. Acquisition
c. Approved
d. Access