Securities And Exchange Board Of India - Subsection
Section 20(2) in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
(2)The Sponsor or Manager of Alternative Investment Fund shall appoint a custodian registered with the Board for safekeeping of securities if the corpus of the Alternative Investment Fund is more than five hundred crore rupees:Provided that the Sponsor or Manager of a Category III Alternative Investment Fund shall appoint such custodian irrespective of the size of corpus of the Alternative Investment Fund.[Provided further that the custodian appointed by Category III Alternative Investment Fund shall keep custody of securities and goods received in delivery against physical settlement of commodity derivatives.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2019/16, dated 10.5.2019 (w.e.f. 21.5.2012).]
