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Timelines for transfer of dividend and redemption proceeds to unitholders - SEBI - SEBI/HO/IMD/IMD-I DOF2/P/CIR/2022/161

Extract

..... dated November 15, 2022. 2. Consequent to the above amendment, the following has been decided: I. Transfer of Dividend Payments a. In partial modification of paragraph II(c) of SEBI Circular SEBI/IMD/CIR No.1/64057/06 dated April 4, 2006, the record date shall be two working days from the issue of public notice, wherever applicable, for the purpose of payment of dividend. b. The payment of dividend to the unitholders shall be made within seven working days from the record date. II. Transfer of R .....

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Timelines for transfer of dividend and redemption proceeds to unitholders - SEBI

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..... suance of this circular. III. Interest for the period of delay in transfer of redemption or repurchase or dividend shall be payable to unitholders at the rate of 15% per annum along with the proceeds of redemption or repurchase or dividend, as the case may be. Such Interest shall be borne by AMCs. The details of such payments shall be sent to SEBI as part of Compliance Test Reports in the format placed at Annexure A. Investors shall also be informed about the rate and amount of interest paid to .....

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Timelines for transfer of dividend and redemption proceeds to unitholders - SEBI

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