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SEBI Proposes Mandatory Dematerialisation of Units of AIFs June 21, 2023
Published in: Investment Funds
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SEBI, vide its circular dated June 21, 2023, has mandated all schemes of AIFs (except for schemes whose tenure (excluding permissible extensions) ends on or before April 30, 2024) to issue or convert their units in dematerialised form subject to conditions specified by SEBI from time to time and in compliance with the below mentioned time frame:
Terms of transfer of units of AIF held in dematerialised form shall continue to be governed by the terms of private placement memorandum (“PPM”), agreements entered between the AIF and investors and any other fund documents.
The circular also directs depositories to take steps towards implementation of the provisions thereof.
To read the circular click here
For any clarification, please write to:
Mr. Yatin Narang
Partner
[email protected]