TMI BlogSecurities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2003X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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, the following clause (ma) shall be added after the existing clause (m): (ma) 'fund of funds scheme' means a mutual fund scheme that invests primarily in other schemes of the same mutual fund or other mutual funds. (ii) In regulation 25, the following sub-regulations shall be inserted after sub-regulation (6), namely: - (6A). The Chief Executive Officer (whatever his designation may be) of the asset management company shall ensure that the mutual fund complies with all the provisions of these regulations and the guidelines or circulars issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12. A fund of funds scheme shall be subject to the following investment restrictions: (a) A fund of funds scheme shall not invest in any other fund of funds scheme; (b) A fund of funds scheme shall not invest its assets other than in schemes of mutual funds, except to the extent of funds required for meeting the liquidity requirements for the purpose of repurchases or redemptions, as disclosed in the offer document of fund of funds scheme. [F. No. SEBI/LE/16330/2003] G.N. BAJPAI, Chairman Footnotes: (1) The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, the Principal Regulations were published in the Gazette of India on December 9, 1996 vide S.O. No. 856(E). (2) The Securities and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mendment) Regulations, 2002 vide S.O. No.219 (E). (k) on June 11, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2002 vide S.O. No.625 (E). (l) on July 30, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2002 vide S.O. No.809(E). (m) on September 9, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Fourth Amendment) Regulations, 2002 vide S.O. No.956(E). (n) on September 27, 2002 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide S.O. No. 1045(E). - Notification Tax Management India - taxmanagementindia - taxman ..... X X X X Extracts X X X X X X X X Extracts X X X X
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