Question
Under the SEBI Act any pooling of funds under any scheme
or arrangement, which is not registered with the Board or is not covered under section 11AA (3), involving a corpus amount of _______________ shall be deemed to be a collective investment schemeSolution
Section 11AA. Collective investment scheme-- (1) Any scheme or arrangement which satisfies the conditions referred to in sub-section or sub-section (2A) shall be a collective investment scheme. Provided that any pooling of funds under any scheme or arrangement, which is not registered with the Board or is not covered under sub-section (3), involving a corpus amount of one hundred crore rupees or more shall be deemed to be a collective investment scheme.
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