Modifications in the existing SEBI circulars for Mutual Funds

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..... he years, certain circulars/ guidelines have been revised in line with the requirements of investor protection, market development or effective regulation. In continuation of the effort and in consultation with AMFI, modifications in following existing circulars have been carried out (For modification(s), please refer Annexure I): 1. Payment of interest on delay in dispatch of redemption or repurchase proceeds - SEBI Circular SEBI/ MFD/CIR/2/266/2000 dated May 19, 2000. 2. Guidelines for participation by Mutual Funds in Stock Lending Scheme- SEBI circular MFD/CIR/01/047/99 dated February 10, 1999 3. Consolidation of schemes - SEBI Circular No. SEBI/MFD/CIR No.5/12031/03 dated June 23, 2003 4. Launch of Additional Plan under existing Sch .....

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..... s clarified that, in the event of failure of dispatch of dividend within the stipulated 30 day period, the AMC(s) shall be liable to pay interest @ 15 per cent per annum to the unit holders." Below the format for statement of interest paid to the investors for delays in despatch of redemption / repurchase warrants, the following table shall be inserted. This statement shall be sent to SEBI alongwith the Compliance Test Report(s) STATEMENT OF INTEREST PAID TO THE INVESTORS FOR DELAYS IN DESPATCH OF DIVIDEND Name of the Investor Date of Dividend Declaration Date of Despatch of Dividend Period of Delay Amount of Interest Paid (Rs.) 2. Guidelines for participation by Mutual Funds in Stock Lending Scheme - SEBI circular MFD/CIR .....

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..... xit loads, expenses or such other details which in the opinion of the AMC/ Trustees is material. The addendum shall be filed with SEBI 21 days in advance of opening of plan(s). ii. AMC(s) shall publish an advertisement or issue a press release at the time of launch of such additional plan(s)" 5. Guidelines for Investment/Trading in Securities by Employees of Asset Management Companies & Mutual Fund Trustee Companies - SEBI Circular No. MFD/CIR No.4/216/2001 dated May 8, 2001 The tenure of '10 calendar days' as stipulated in Clause 1.5 under prior approval of personal investment transactions shall be replaced with '7 calendar days'. 6. Guidelines for Advertisement by Mutual Funds - SEBI Circular No. MFD/CIR/4/51/2000 dated June 5, 2000 .....

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