Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999
Summary
This part reproduces the contents and Chapter I Preliminary of the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999 amended up to December 5, 2025. Regulation 1 provides the short title as the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999 and states they come into force on publication in the Official Gazette. Regulation 2 defines Act, advertisement and appraising agency and begins the definition of associate in relation to a collective investment management company or trustee. This part contains Regulation 2 definitions clauses (d) to (v) of the SEBI (Collective Investment Schemes) Regulations. It defines terms including auditor, designated employees, Board, certificate, Collective Investment Management Company, collective investment scheme, closed-ended collective investment scheme, control, credit rating agency, depository, fraud, inspecting officer, key personnel, net worth, offer document and relative. Several definitions were substituted or inserted by the 2014 and 2022 amendments and clause (n) on economic offence was omitted w.e.f. 10-5-2022. This part defines terms including registrars to an
Text
These regulations may be called the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999.
They shall come into force on the date of their publication in the Official Gazette.
"Act" means the Securities and Exchange Board of India Act, 1992 (15 of 1992);
"advertisement" includes: (i) notices, brochures, pamphlets, circulars, showcards, catalogues, hoardings, placards, posters, insertions in newspapers, pictures, films and cover pages of offer documents; (ii) any other matter to which publicity is given through print medium, radio, television programmes or electronic media;
"appraising agency" means an agency empanelled with the Board for the purpose of conducting technical or financial appraisal of the collective investment scheme;
"associate" in relation to a collective investment management company or trustee, includes a person:
who, directly or indirectly, by himself, or in combination with other persons, exercises control over the Collective Investment Management Company or the trustee, as the case may be, or
in respect of whom the Collective Investment Management Company or the trustee, as the case may be directly or indirectly, by itself, or in combination with other persons, exercises control, or
whose director, officer or employee is a director, officer or employee of the Collective Investment Management Company or the trustee, as the case may be;
"auditor" means a firm, including a limited liability partnership, constituted under the Limited Liability Partnership Act, 2008, who is eligible and qualified to audit the accounts of a company under section 141 of the Companies Act, 2013 (18 of 2013)
"designated employees" of the Collective Investment Management Company includes: (i) chief executive officer, chief investment officer, chief risk officer, chief information security officer, chief operation officer, fund manager, compliance officer, sales head, investor relation officer, heads of other departments and dealer of the Collective Investment Management Company; (ii) persons directly reporting to the chief executive officer (excluding personal assistant/ secretary); (iii) fund management team and research team; (iv) other employees as identified by Collective Investment Management Companies or trustees.
"Board" means the Securities and Exchange Board of India established under the provisions of section 3 of the Act;
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Source: SecMarx — Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.