Cancellation of registration possible where fraud, repeated defaults, market manipulation, or serious financial deterioration threatens unitholders.

Regulation 69 empowered the Board to cancel the certificate of registration of a mutual fund where the fund committed fraud or an economic offence; committed repeated defaults of the nature in regulation 68; the fund, its asset management company or trustee engaged in price manipulation, rigging or cornering affecting the market and investors; or the fund's financial position deteriorated to the extent that continuance was not in the interest of unitholders and other mutual funds.

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