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In force from 1 April 2027. The SEBI (Portfolio Managers) Regulations, 2026 were notified on 7 October 2026 and replace the 2020 Regulations from 1 April 2027. Until then, the 2020 Regulations apply.

REGULATION 29 · Chapter VI · Portfolio Management Service route for investment in mutual fund units (PRIM)

Applicability

SEBI (Portfolio Managers) Regulations, 2026 · notified 7 October 2026 · in force from 1 April 2027

In plain English

Chapter VI covers PRIM, the portfolio management service route for investing in mutual fund units. The rest of the Regulations apply to PRIM except the provisions listed, which include the ₹50 lakh minimum in Regulation 16(3) and Chapters III and IV.

This note explains the provision; the notified text below is the law.

Regulation 29 as notified

(1) The provisions of this chapter shall apply to PRIM. (2) All other provisions of these regulations, except the following provision and the guidelines and circulars issued thereunder, unless the context otherwise requires or is repugnant to the provisions of this chapter, shall mutatis mutandis apply to PRIM– (a) Clauses (ii), (iii) and (iv) of Regulation 4(a); (b) Clauses (i) and (ii) of Regulation 4(b); (c) Regulation 6(4); (d) Chapter III; (e) Chapter IV; (f) Sub–regulations (3), (17) and (20) of Regulation 16; (g) Clauses (b), (c), (d), (e), (f), (i), (k) of Regulation 17(1); (h) Clauses (ii) and (iii) of Regulation 17(3)(d).

English text of the Gazette notification. Read with any circulars SEBI issues under these Regulations.

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The plain-English note is a learning aid. The notified text is the law; check later SEBI circulars.

Prashant Kumar

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CS Prashant Kumar

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Prashant Kumar is a seasoned Company Secretary and corporate governance strategist with more than 13 years of experience advising large corporates, promoter-led groups and global businesses on compliance, regulatory risk and board governance. In GIFT IFSC, the IFSCA regime is his day job rather than a research topic.