THE GAZETTE OF INDIA

EXTRAORDINARY

PART II SECTION 3 – SUB-SECTION (ii)

PUBLISHED BY AUTHORITY

NEW DELHI, WEDNESDAY, SEPTEMBER 6, 2006

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, the 4th September, 2006

SECURITIES AND EXCHANGE BOARD OF INDIA

(VENTURE CAPITAL FUNDS) (SECOND AMENDMENT) REGULATIONS, 2006

S.O.No. 1444  (E). 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 further amend the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, namely: –

1.  These Regulations may be called the Securities and Exchange Board of India (Venture Capital Funds) (Second Amendment) Regulations, 2006.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, in Second Schedule, for Part A the following Part shall be substituted, namely:-

“PART A

AMOUNT TO BE PAID AS FEES

Application fee                                                                                            Rs.  1,00,000

Registration fee                                                                                           Rs.10,00,000”
F.No. SEBILADDOP 2109 2006

M. DAMODARAN

CHAIRMAN

SECURITIES AND EXCHANGE BOARD OF INDIA

Footnotes

(1) The Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, the Principal Regulations were published in the Gazette of India on December 4, 1996 vide S.O. No.850(E).

(2) The Regulations were subsequently amended:

(a) On January 5, 1998 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 1998 vide S.O. No.19 (E).

(b) On November 17, 1999 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 1999 vide S.O. No.1118 (E).

(c) On September 15, 2000 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 2000 vide S.O. No.831 (E).

(d)On December 30, 2000 by the SEBI (Venture Capital Funds) (Second Amendment) Regulations, 2000 vide S.O. No. 1179 (E).

(e)On September 27, 2002 by the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide S.O. No.1045 (E).

(f)On March 10, 2004 by the Securities and Exchange Board of India (Criteria for Fit and Proper Person) Regulations, 2004 vide S.O. No. 398(E).

(g) On April 5, 2004 by the Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2004 vide S.O. No. 468 (E).

(h)On January 25, 2006 by the Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2006 vide S.O. No. 93 (E).

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