Mumbai, May 19 (IANS) The Securities Exchange Board of India (SEBI) on Thursday decided to publish a consultation paper, proposing changes and clarification in the Infrastructure Investment Trusts (InvIT) Regulations.
“The paper will propose changes and provide clarification on InvIT process to invest in two-level special purpose structure,” the market regulator said in a statement here.
At a meeting earlier in the day here, the board also decided to consider reducing to 10 percent from 25 percent on mandatory sponsor holding in InvIT norms.
“The consultation paper will also consider increasing sponsors to five from three and other operational needs in line with the provisions of Companies Act, 2013 and filing of project implementation agreement with other documents.
“The paper will be placed on the official website for public comments,” the statement added.
The board also approved to set up two SEBI chairs at its National Institute of Securities Markets by contributing some corpus to it.
“The chairs will provide research-based policy inputs and help in increasing academic interest and awareness about the regulator’s activities,” the statement noted.
Selection of chairs will be with academic council of NISM.