THE GAZETTE OF INDIA
EXTRAORDINARY
PART III – SECTION 4
PUBLISHED BY AUTHORITY
NEW DELHI, APRIL 13, 2010
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai,13th April, 2010
Securities and Exchange Board of India (Venture Capital Funds) (Amendment)
Regulations, 2010

No. LAD-NRO/GN/2010-11/07/1100. 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 amend the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, namely:-

1. (i) These regulations may be called the Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2010.

(ii) These regulations shall come into force on the date of their publication in the Official Gazette.

2. In the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, –

(i) after regulation 12, the following regulation shall be inserted, namely:-
“Investment in securities listed on SME exchange.

12A. The venture capital fund may enter into an agreement with merchant banker to subscribe to the unsubscribed portion of the issue or to receive or deliver securities in the process of market making under Chapter XA of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and the provisions of regulation 12 shall not apply in case of acquisition or sale of securities pursuant to such subscription or market making.”

C. B. BHAVE CHAIRMAN

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. 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.19 (E).

(b) On November 17, 1999 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 1999 vide S.O. 1118 (E).

(c) On September 15, 2000 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 2000 vide S.O. 831 (E).

(d) On December 30, 2000 by the SEBI (Venture Capital Funds) (Second Amendment) Regulations, 2000 vide S.O. 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. 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. 398(E).

(g) On April 5, 2004 by the Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2004 vide S.O. 468 (E).

(h) On January 25, 2006 by the Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2006 vide S.O. 93 (E).

(i) On September 04, 2006 by the Securities and Exchange Board of India (Venture Capital Funds) (Second Amendment) Regulations, 2006 vide S.O. 1444 (E).

(j) On March 31, 2008 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2008 vide F. No. 11 /LC/GN/2008/2 1669.

(k) On May 26, 2008 by the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 vide LAD-NRO/GN/2008/1 1/126538..

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