MUMBAI, December 10: The Securities and Exchange Board of India (SEBI) has set up a committee headed by former UTI chairman S A Dave to finalise the regulations for collective investment schemes such as agro bonds and plantation bonds issued by various companies.

Empowering itself from the government's directive to regulate these entities, the SEBI has already initiated the process of drafting the regulations under the provisions of the SEBI Act, 1992. Once the draft regulations are done, the same would be submitted to the committee to finalising.

The other members of the committee include D N Raval, executive director, legal (SEBI) and Vijay Ranjan, member secretary, representative from ministry of agriculture.

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