{"id":112511,"date":"2017-03-06T15:34:35","date_gmt":"2017-03-06T10:04:35","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=112511"},"modified":"2017-03-06T15:34:35","modified_gmt":"2017-03-06T10:04:35","slug":"angel-funds-allowed-to-invest-in-securities-of-overseas-companies-subject-to-rbi-guidelines","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/03\/06\/angel-funds-allowed-to-invest-in-securities-of-overseas-companies-subject-to-rbi-guidelines\/","title":{"rendered":"Angel Funds allowed to invest in securities of overseas companies subject to RBI guidelines"},"content":{"rendered":"

No. SEBI\/LAD-NRO\/GN\/2016-17\/026.\u2014<\/strong> In exercise of the powers conferred by sub-section (1) of Section 30 read with sub-section (1) of Section 11, clause (ba) and clause (c) of sub-section (2) of Section 11 and sub-sections (1) and (1B) of Section 12 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 (Alternative Investment Funds) Regulations, 2012, namely,-<\/p>\n

1.These regulations may be called the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2016.<\/p>\n

2.They shall come into force on the date of their publication in the Official Gazette.<\/p>\n

3. In the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, –<\/p>\n

I. In sub-regulation (4) of Regulation 19E, for the words \u201cforty nine\u201d, the words \u201ctwo hundred\u201d shall be substituted.<\/p>\n

II. In Regulation 19F,-<\/p>\n

(i) In sub-regulation (1), the word \u201conly\u201d shall be deleted.<\/p>\n

(ii)\u00a0In clause (a) of sub-regulation (1), the words \u201chave been incorporated during the preceding three years from the date of such investment\u201d shall be substituted by the words \u201ccomplies with the criteria regarding the age of the venture capital undertaking\/startup issued by the Department of Industrial Policy and Promotion under the Ministry of Commerce and Industry, Government of India vide Notification No. G.S.R. 180(E) dated February 17, 2016 or such other policy made in this regard which may be in force;\u201d.<\/p>\n

(iii) In sub-regulation (2), for the words \u201cfifty\u201d, the words \u201ctwenty five\u201d shall be substituted.<\/p>\n

(iv) In sub-regulation (3), for the words \u201cthree years\u201d, the words \u201cone year\u201d shall be substituted.<\/p>\n

(v)After sub-regulation (5), the following sub-regulation (6) shall be inserted, namely:-<\/p>\n

\u201c(6) An angel fund may also invest in the securities of companies incorporated outside India 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.<\/p>\n

\u00a0[ADVT.-III\/4\/Exty.\/366\/16]<\/p>\n

Footnote:<\/strong><\/p>\n

    \n
  1. The Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 were published in the Gazette of India on 21st<\/sup> May, 2012 vide No. LAD-NR0\/GN\/2012-13\/04\/11262.<\/li>\n
  2. The Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 were amended on 16th<\/sup> September, 2013 by the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2013 vide No. LAD-NR0\/GN\/2013-14\/24\/6573.<\/li>\n<\/ol>\n

    Securities and Exchange Board of India<\/p>\n

    \n","protected":false},"excerpt":{"rendered":"

    No. SEBI\/LAD-NRO\/GN\/2016-17\/026.\u2014 In exercise of the powers conferred by sub-section (1) of Section 30 read with sub-section (1) of Section 11, clause <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-112511","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"\nAngel Funds allowed to invest in securities of overseas companies subject to RBI guidelines | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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