- within Law Department Performance topic(s)
SEBI, vide notification dated May 10, 2024, has issued a commencement notification for certain provisions of the SEBI (AIFs) (Second Amendment) Regulations, 2023. These amendments pertain to the eligibility criteria of AIFs for the purpose of the grant of certificate to an applicant. Accordingly, to meet the eligibility criteria, the key investment team of the manager of AIFs must have at least 1 (one) key personnel with relevant certification as specified by the SEBI.
Subsequently, SEBI, vide their circular dated May 13, 2024, has issued the certification requirement for the key investment team of manager of AIF. The criteria to obtain the prescribed certification by at least 1 (one) key personnel of the key investment team of manager of AIF, is applicable to all the applications for registration of AIFs and launch of schemes by AIFs filed after May 10, 2024. Further, existing schemes of AIFs and schemes of AIFs whose applications for launch of schemes are pending with SEBI as on May 10, 2024, must comply with the requirement of obtaining the certification on or before May 9, 2025.
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