Chapter III-D · Migrated Venture Capital Funds
Regulation 19Z
Prohibition on inviting subscription from the public
Chapter III-D · Migrated Venture Capital Funds
SEBI (Alternative Investment Funds) Regulations, 2012
In plain English
In plain English
A migrated venture capital fund cannot issue any document or advertisement inviting the public to subscribe to or buy its units.
Where this sits
Regulation 19Z is in Chapter III-D — Migrated Venture Capital Funds of the SEBI (Alternative Investment Funds) Regulations, 2012.
Provisos, explanations and conditions
This regulation has no provisos or explanations in its text. Check Connections for other provisions it refers to.
What changed
No change to this regulation by the 2026 amendments (No. 303 of 16 April 2026 and No. 313 of 10 July 2026).
Where it connects
The text of this regulation does not refer to other numbered regulations.
Chapter
Check yourself
1 practice question on Regulation 19Z, each with an explanation for every option.
- True or false: a migrated venture capital fund may advertise its units to the public.
The regulation
19Z. Migrated venture capital fund shall not issue a document or an advertisement inviting offers from the public for the subscription or purchase of any of its units.
Text from the consolidated Regulations. Square brackets and [***] mark earlier amendments and omissions, as in the official text. Check the official Gazette text before relying on it.
Last checked against source on 10 October 2026: consolidated Regulations to 19 November 2025, read with Amendment Regulations No. 303 (16 April 2026) and No. 313 (10 July 2026).
Source and verification
- Instrument
- SEBI (Alternative Investment Funds) Regulations, 2012 — Regulation 19Z
- Text used
- Consolidated Regulations as amended up to 19 November 2025, read with the 2026 amendments (no change to this regulation)
- Last checked
- 10 October 2026
- Official source
- www.sebi.gov.in → Legal → Regulations. The Gazette text prevails.
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