Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

Chapter: I
PRELIMINARY
Regulation 1	:	Short title, application and commencement.
Regulation 2	:	Definitions
Chapter: II
REGISTRATION OF MUTUAL FUND
Regulation 3	:	Application for registration
Regulation 4	:	Application fee to accompany the application
Regulation 5	:	Application to conform to the requirements
Regulation 6	:	Furnishing information
Regulation 7	:	Eligibility criteria
Regulation 7A	:	Criteria for fit and proper person
Regulation 7B	:	Norms for Shareholding and Governance in Mutual Funds
Regulation 7C	:	Disassociate from the asset management company and the mutual fund
Regulation 8	:	Consideration of application
Regulation 9	:	Grant of Certificate of Registration
Regulation 10	:	Terms and conditions of registration
Regulation 11	:	Rejection of application
Regulation 12	:	Payment of annual service fee
Regulation 13	:	Failure to pay annual service fee
Chapter: III
CONSTITUTION AND MANAGEMENT OF MUTUAL FUND AND OPERATION OF TRUSTEES, ETC.
Regulation 14	:	Trust deed to be registered under the Registration Act
Regulation 15	:	Contents of trust deed
Regulation 16	:	Disqualification from being appointed as trustees
Regulation 17	:	Approval of the Board for appointment of trustee
Regulation 18	:	Rights and obligations of the trustees
Chapter: IV
CONSTITUTION AND MANAGEMENT OF ASSET MANAGEMENT COMPANY AND CUSTODIAN
Regulation 19	:	Application by an asset management company
Regulation 20	:	Appointment of an asset management company
Regulation 21	:	Eligibility criteria for appointment of asset management company
Regulation 22	:	Terms and conditions to be complied with
Regulation 23	:	Procedure where approval is not granted
Regulation 24	:	Restrictions on business activities of the asset management company
Regulation 25	:	Asset management company and its obligations
Regulation 25A	:	Meeting of the board of directors of the trustee company and the board of directors of the asset management company
Regulation 26	:	Appointment of custodian
Regulation 27	:	Agreement with custodian
Chapter: V
SCHEMES OF MUTUAL FUND
Regulation 28	:	Procedure for launching of schemes
Regulation 29	:	Disclosures in the offer document
Regulation 29A	:	Nomination
Regulation 30	:	Advertisement material.
Regulation 31	:	Misleading statements
Regulation 31A	:	In-principle approval from recognised stock exchange(s)
Regulation 31B	:	Listing Agreement
Regulation 32	:	Listing of close ended schemes
Regulation 33	:	Repurchase of close ended schemes
Regulation 34	:	Offering period
Regulation 35	:	Allotment of units and refunds of money
Regulation 36	:	Statement of accounts or unit certificates
Regulation 37	:	Transfer of units
Regulation 38	:	Guaranteed returns
Regulation 38A	:	Capital Protection oriented schemes
Regulation 39	:	Winding up
Regulation 40	:	Effect of winding up
Regulation 41	:	Procedure and manner of winding up
Regulation 42	:	Winding up of the scheme
Regulation 42A	:	Delisting of units
Chapter: VI
INVESTMENT OBJECTIVES AND VALUATION POLICIES
Regulation 43	:	Investment objective
Regulation 43A	:	Investment in Corporate Debt Market Development Fund
Regulation 44	:	Investment, borrowing, restriction, etc.
Regulation 45	:	Carry forward transactions, derivatives transactions and short selling transactions
Regulation 46	:	Underwriting of securities (Omitted)
Regulation 47	:	Valuation of investments
Regulation 48	:	Computation of Net Asset Value
Regulation 49	:	Pricing of Units
Chapter: VIA
REAL ESTATE MUTUAL FUND SCHEMES
Regulation 49A	:	Definitions
Regulation 49B	:	Applicability
Regulation 49C	:	Additional eligibility criteria
Regulation 49D	:	Other conditions for real estate mutual fund schemes
Regulation 49E	:	Permissible investments
Regulation 49F	:	Valuation of real estates assets and declaration of net asset value
Regulation 49G	:	Duties of asset management company
Regulation 49H	:	Usage of real estate assets of a real estate mutual fund scheme
Regulation 49I	:	Duties of trustees
Regulation 49J	:	Disclosures in offer document and other disclosures
Regulation 49K	:	Transactions by employees etc.
Chapter: VIB
INFRASTRUCTURE DEBT FUND SCHEMES
Regulation 49L	:	Definitions.
Regulation 49M	:	Applicability
Regulation 49N	:	Eligibility criteria for launching infrastructure debt fund scheme
Regulation 49NA	:	Offering period
Regulation 49O	:	Conditions for infrastructure debt fund schemes
Regulation 49OA	:	Private Placement
Regulation 49P	:	Permissible investments
Regulation 49Q	:	Valuation of assets and declaration of net asset value
Regulation 49R	:	Duties of asset management company
Regulation 49S	:	Disclosures in offer document and other disclosures
Regulation 49T	:	Transactions by employees etc.
Chapter: VII
GENERAL OBLIGATIONS
Regulation 50	:	To maintain proper books of account and records, etc.
Regulation 51	:	Financial year
Regulation 51A	:	Credit of exit load to scheme
Regulation 52	:	Limitation on fees and expenses on issue of schemes
Regulation 52A	:	Declaration of dividends
Regulation 53	:	Transfer of dividend and redemption proceeds
Regulation 54	:	Annual Report
Regulation 55	:	Auditor’s report
Regulation 56	:	Providing copies of Annual report and summary thereof
Regulation 57	:	Annual Report to be forwarded to the Board
Regulation 58	:	Periodic and continual disclosures
Regulation 59	:	Half-yearly Disclosures
Regulation 59A	:	Statement of Portfolio
Regulation 59B	:	Dispute Resolution
Regulation 60	:	Disclosures to the investors
Regulation 60A	:	Grievance Redressal Mechanism
Chapter: VIII
INSPECTION AND AUDIT
Regulation 61	:	Board’s right to inspect and investigate
Regulation 62	:	Notice before inspection and investigation
Regulation 63	:	Obligations on inspection and investigation
Regulation 64	:	Submission of report to the Board
Regulation 65	:	Action on inspection or investigation report
Regulation 66	:	Appointment of auditor
Regulation 67	:	Payment of inspection fees to the Board
Chapter: IX
PROCEDURE FOR ACTION IN CASE OF DEFAULT
Regulation 68	:	Liability for action in case of default
Regulation 69	:	Omitted
Regulation 70	:	Omitted
Regulation 71	:	Omitted
Regulation 72	:	Omitted
Regulation 73	:	Omitted
Regulation 74	:	Omitted
Regulation 75	:	Action against intermediaries
Regulation 75A	:	Action against mutual fund and/or asset management company
Regulation 76	:	Action by the Board.
Chapter: IX-A
POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS
Regulation 76A	:	Exemption from enforcement of the regulations in special cases
Chapter: X
MISCELLANEOUS
Regulation 77	:	Power of the Board to issue clarifications
Regulation 78	:	Repeal and saving
SCHEDULES
SCHEDULE - 01	:	FORMS
SCHEDULE - 02	:	FEES
SCHEDULE - 03	:	CONTENTS OF THE TRUST DEED
SCHEDULE - 04	:	CONTENTS OF THE INVESTMENT MANAGEMENT AGREEMENT
SCHEDULE - 05	:	CODE OF CONDUCT
SCHEDULE - 06	:	ADVERTISEMENT CODE
SCHEDULE - 07	:	RESTRICTIONS ON INVESTMENTS
SCHEDULE - 08	:	INVESTMENT VALUATION NORMS
SCHEDULE - 09	:	ACCOUNTING POLICIES AND STANDARDS
SCHEDULE - 10	:	Omitted
SCHEDULE - 11	:	ANNUAL REPORT
SCHEDULE - 12	:	HALF-YEARLY FINANCIAL RESULTS FOR THE PERIOD ENDED