The Securities and Exchange Board of India has recently published on its website, an exhaustive set of FAQs pertaining to grant of registration as Alternative Investment Fund.
As per the FAQs, the first step towards applying for AIF registration is creating a login ID on SEBI’s SI Portal. While the application can be filed online, SEBI additionally requires physical filing of the submission with all required documents, for ease of processing.
The FAQs provide guidance on the following information / documents to be provided while filing the AIF application:
· Details of AIF, Trustee, Sponsor and Investment Manager (‘IM’)
· Financial information about Sponsor and IM
· Necessary declarations to be provided by the applicant
· PPM / Scheme Documents
· Shareholder / partners of the Sponsor and IM
· Other regulatory registrations of Sponsor / IM or their shareholders / partners
· Controlling entities / KMPs / associates / group companies
· Key investment team
Further, the FAQs provide formats for undertakings to be submitted by the Trustee or Board of the applicant in respect of the AIF applications. The undertakings inter alia contain detailed checklist prepared in line with requirements under the SEBI AIF Regulations, 2012.