Scheme winding-up permits closure on expiry or investor resolution, while regulatory directions may require winding-up, merger, or external management. Scheme winding up may occur on expiry of the tenure specified in the placement memorandum or offer document, or where investors holding seventy-five per ... Summary
Scheme winding-up permits closure on expiry or investor resolution, while regulatory directions may require winding-up, merger, or external management.
Scheme winding up may occur on expiry of the tenure specified in the placement memorandum or offer document, or where investors holding seventy-five per cent of the scheme's investment value approve winding up through a resolution at an investors' meeting. The Authority may also direct a fund management entity to wind up a scheme, merge specified schemes, or manage schemes of another fund management entity in the interests of investors and orderly financial-market development.
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