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SEBI Issues Guidelines for AIF

Published on November 24, 2022
Current Context: The Securities and Exchange Board of India (SEBI) issued guidelines for Alternative Investment Funds (AIFs).
SEBI Issues Guidelines for AIF
  • The revised guidelines were framed by SEBI by amending the SEBI (Alternative Investment Funds) Regulations, 2012.
  • The framework deals with:
  1. Declaration of the First Close
  2. Calculation of Tenure
  3. Change of Sponsor/Manager
  4. Change in Control of Sponsor/Manager
  • As per the guidelines, for taking the Private Placement Memoranda (PPM), the first close of a scheme must be declared within 12 months from the date of communication with SEBI.
  • It further mentions that the fee must be paid within 15 days of the proposed change of the sponsor/manager or changes in control of the sponsor/manager.
  • SEBI is a Government of India-owned regulatory body that was established in 1992 with its headquarters in Mumbai, Maharashtra. The current Chairperson of it is Madhabi Puri Buch.

Question:

Q.1 According to the recently issued guidelines regarding AIF by SEBI, the first close of a scheme must be declared within ______ from the date of communication with SEBI.
a. 06 months
b. 12 months
c. 18 months
d. 24 months
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