TMI BlogSecurities And Exchange Board Of India (Mutual Funds) (Amendment) Regulations, 2006X X X X Extracts X X X X X X X X Extracts X X X X ..... ll come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996: (i) in regulation 2- (a) after clause (ma) the following clauses shall be inserted, namely:- (mb) gold exchange traded fund scheme shall mean a mutual fund scheme that invests primarily in gold or gold related instruments; (mc) gold related instrument shall mean such instrument having gold as underlying, as may be specified by the Board from time to time; (b) in clause (q), after the words including money market instruments and before the semi-colon, the words or gold or gold related instruments shall be inserted; (ii) in regulation 7, in claus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that nothing in the Seventh Schedule shall apply to a gold exchange traded fund scheme. (b) after sub-regulation (4), the following sub-regulation shall be inserted, namely: (5) A gold exchange traded fund scheme shall be subject to the following investment restrictions: (a) the initial issue expenses in respect of any such scheme shall not exceed six percent of the funds raised under that scheme; (b) the funds of any such scheme shall be invested only in gold or gold related instruments in accordance with its investment objective, except to the extent necessary to meet the liquidity requirements for honouring repurchases or redemptions, as disclosed in the offer document; and (c) pending deployment of funds in a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d of India (Appeal to the Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide S.O. No.278(E). (f) on May 22, 2000 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2000 vide S.O. No.484 (E). (g) on January 23, 2001 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2001 vide S.O. No.69 (E). (h) on May 29, 2001 by the Securities and Exchange Board of India (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide S.O. No.476(E). (i) on July 23, 2001 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2001 vide S.O. No.698(E). (j) on February 20, 2002 by the Securities and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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