Chapter II · Registration of Alternative Investment Funds
Regulation 7
Conditions of certificate
Chapter II · Registration of Alternative Investment Funds
SEBI (Alternative Investment Funds) Regulations, 2012
In plain English
In plain English
A registered AIF must follow the SEBI Act and these regulations, carry on only permitted activities, and tell SEBI straight away if information it gave turns out to be false or misleading or if there is a material change. It cannot move to another category after registration without SEBI's approval.
What the Master Circular adds
From SEBI's Master Circular for AIFs (updated 16 June 2026). The Regulation sets the rule; the Master Circular sets how it works in practice.
- MC Ch 13
A change in control or a change of sponsor or manager is treated as a material change, with an exit option for dissenting investors.
Where this sits
Regulation 7 is in Chapter II — Registration of Alternative Investment 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
Provisions this regulation refers to
Related Master Circular chapters (by subject)
- Chapter 1 · Requirements and clarifications pertaining to registration of AIFs
- Chapter 13 · Material change and change in Sponsor or Manager of AIFs
Chapter
Check yourself
11 practice questions on Regulation 7, each with an explanation for every option.
- True or false: a registered AIF may carry on activities other than its permitted activities, if investors agree.
- When must an AIF inform SEBI under Regulation 7(1)(c)?
- True or false: an AIF registered in one category can change its category only with SEBI's approval.
- Which AIFs may apply to change their category?
- What application fee applies to a change of category?
The regulation
7. (1) The certificate granted under regulation 6 shall, inter-alia, be subject to the following conditions:(a) the Alternative Investment Fund shall abide by the provisions of the Act and these regulations;
(b) the Alternative Investment Fund shall not carry on any other activity other than permitted activities;
(c) the Alternative Investment Fund shall forthwith inform the Board in writing, if any information or particulars previously submitted to the Board are found to be false or misleading in any material particular or if there is any material change in the information already submitted.
(2) An Alternative Investment Fund which has been granted registration under a particular category cannot change its category subsequent to registration, except with the approval of the Board.
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 7
- 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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