Allotment and refund obligations require prompt refund of application money; late refunds attract statutory interest. The Collective Investment Management Company must specify the minimum and maximum subscription and the allotment process for oversubscription in the offer document. If the scheme fails to receive the minimum subscription, the company must refund application money within the prescribed period from the date of closure of the subscription list by specified postal or electronic payment channels; failure to refund within that period attracts statutory interest payable to applicants.