Consider the following statements about Collective Investment Schemes and SEBI regulation, and choose the incorrect answer.
1
Collective Investment Scheme (CIS) are defined as per the Securities Laws (Amendment), Act 2014.
2
In a Collective Investment Scheme (CIS) the investors do not have day-to-day control over the management and operation of the scheme or arrangement.
3
It is a money pooling scheme in which the corpus amount of Rs 100 crore or more is sourced from investors
4
Chit funds and Nidhi companies are CIS regulated by SEBI
5
All the given statements are correct.