Securities And Exchange Board Of India - Subsection
Section 3(2) in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
(2)The funds registered as venture capital fund under Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996 shall continue to be regulated by the said regulations till the existing fund or scheme managed by the fund is wound up and such funds shall not launch any new scheme after notification of these regulations:Provided that the existing fund or scheme shall not increase the targeted corpus of the fund or scheme after notification of these regulations.Provided further that venture capital funds may seek re-registration under these regulations subject to approval of two-thirds of their investors by value of their investment.
