Viewing 1 post (of 1 total)
  • Author
    Posts
  • #17430
    Enterslice Group
    Participant

    A Collective Investment Scheme (CIS) is a type of investment scheme in which a group of people pool their funds and invest them all in one asset. The profits and revenues produced by this venture will be divided among the investors according to the terms of the pre-act agreement.

    Eligibility for Collective Investment Scheme Registration

    • The applicant should be set up and registered as a company under the Companies Act of 1956.
    • The applicant has defined the management of collective investment schemes as one of the main objects in its Memorandum of Association.
    • The applicant is fit and proper as an individual for the grant of such a certificate of registration.
    • The applicant has a net worth of INR 5 Crores or more. However, this is under the condition that, at the time of making the application, the applicant shall have a minimum net worth of INR 3 Crores which shall increase to INR 5 Crores within 3 years from the date of grant of registration.
    • The applicant has adequate infrastructure in order to enable it to operate collective investment schemes in accordance with the provision of the relevant regulations.
    • A minimum of 50% of the directors of such Collective Investment Management Companies shall consist of individuals who are independent and are not directly or indirectly associated with the individuals who have control over the concerned Collective Investment Management Company.
    • The directors/ key personnel of the applicant shall consist of individuals of honesty and integrity with adequate professional experience in the related field. They must not have been convicted for an offense involving moral turpitude, any economic offense or for the violation of any securities laws.
    • No individuals, directly or indirectly connected with the applicant, has been refused registration by the Board under the Act in the past.

Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.

©2024 A Venture by Megri Soft Limited a 23 year old Web Company in Chandigarh

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

Log in with your credentials

Forgot your details?