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[Cites 0, Cited by 0] [Section 18(5)] [Section 18] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 18(5)(a) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014

(a)not less than eighty per cent. of the value of the [InvIT] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] assets shall be invested, proportionate to the holding of the InvITs, in completed and revenue generating infrastructure projects subject to the following;
(i)if the investment has been made through a [holdco and/or] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] SPV [(s)] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).], whether by way of equity or debt or equity linked instruments or partnership interest, only the portion of direct investments in eligible infrastructure [completed and revenue generating] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] projects by such [holdco and/or SPV(s)] [Substituted 'SPVs' by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] shall be considered under this sub-regulation and the remaining portion shall be included under clause (b);
(ii)if any project is implemented in stages, the part of the project which can be categorised as completed and revenue generating project shall be considered under this sub-regulation and the remaining portion shall be included under clause (b);