(10)For the purposes of this section,—(a)"investment fund" means any fund established or incorporated in India in the form of a trust or a company or a limited liability partnership or a body corporate which has been granted a certificate of registration as a Category I or a Category II Alternative Investment Fund and is regulated under the––(i)Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 made under Securities and Exchange Board of India Act, 1992; or(ii)International Financial Services Centres Authority (Fund Management) Regulations, 2022 made under the International Financial Services Centres Authority Act, 2019;(b)"trust" means a trust established under the Indian Trusts Act, 1882 or under any other law in force; and(c)"unit" means beneficial interest of an investor in the investment fund or a scheme of the investment fund and shall include shares or partnership interests.
