Permissible investments

22. (1) Subject to other provisions of these regulations, a Venture Capital scheme may invest only in the following instruments or entities in IFSC, India or foreign jurisdiction:- (a) Unlisted securities; (b) Securities listed or to be listed or traded on stock exchanges; (c) Money market instruments; (d) Debt securities; (e) Securitised debt instruments, which are either asset-backed or mortgage-backed securities; (f) Units of other Venture Capital schemes subject to appropriate disclosure in the placement memorandum; (g) Units of retail schemes and restricted schemes or alternative investment funds subject to appropriate disclosure in the placement memorandum; (h) Limited liability partnerships; or (i) Such other securities or financial products/ assets or instruments as specified by the Authority: Provided that pending deployment of monies, FME may invest in 5[***] units of investment schemes such as overnight, liquid or money market schemes, money market instruments, bank deposits or any other securities or financial assets or instruments as may be specified by the Authority. 6 [Provided further that any monies received from the contributors prior to the first close of the scheme shall be deployed only in such permissible investments as per sub-regulation (1) of regulation 22 that support preservation of capital and adequate liquidity of the monies deployed, such as bank deposits with option for premature withdrawal, overnight funds, etc., as disclosed by the FME in the placement memorandum.] (2) Any investment made under sub-regulation (1) shall be in accordance with the provisions of these regulations, investment objective of the Venture Capital scheme and disclosures made in the placement memorandum.