Regulation 12 - Payment of annual service fee - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

Payment of 1 [annual] service fee 12. A mutual fund shall pay before the 15th April each year a service fee as specified in the Second Schedule for every financial year from the year following the year of registration: Provided that the Board may, on being satisfied with the reasons for the delay permit the mutual fund to pay the service fee at any time before the expiry of two months from the commencement of the financial year to which such fee relates. ******** 1 Substituted for service by the SEBI (Mutual Funds) (Third Amendment) Regulations, 2006, w.e.f. 3-8-2006.