Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2010
No. LAD-NRO/GN/2010-11/07/1100. In exercise of the powers
conferred by Section 30 of the Securities and Exchange Board
of India Act, 1992 (15 of 1992), the Board hereby makes the
following regulations to amend the Securities and Exchange
Board of India (Venture Capital Funds) Regulations, 1996,
namely:-
1. (i) These regulations may be called the Securities and
Exchange Board of India (Venture Capital Funds) (Amendment)
Regulations, 2010.
(ii) These regulations shall come into force on the date of
their publication in the Official Gazette.
2. In the Securities and Exchange Board of India (Venture
Capital Funds) Regulations, 1996, –
(i) after regulation 12, the following regulation shall be
inserted, namely:-“Investment in securities listed on
SME exchange.
12A. The venture capital fund may enter into an agreement
with merchant banker to subscribe to the unsubscribed portion
of the issue or to receive or deliver securities in the process
of market making under Chapter XA of the Securities and Exchange
Board of India (Issue of Capital and Disclosure Requirements)
Regulations, 2009 and the provisions of regulation 12 shall
not apply in case of acquisition or sale of securities pursuant
to such subscription or market making.”
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