The revised norms of accreditation framework, allow Alternative Investment Fund (AIF) managers, pending receipt of an accreditation certificate, to execute contribution agreements and initiate operational processes based on their assessment of investor eligibility, subject to safeguards. Investor commitments made during this interim period cannot be counted towards the scheme’s corpus, and funds can be accepted only after accreditation is formally granted. SEBI has also eased net worth documentation requirements by removing the mandatory submission of a detailed net worth break-up annexed to the certificate. The circular further requires trustees, sponsors, or managers to ensure compliance with these provisions in the Compliance Test Report.