Provisional registration: conditions for existing collective investment schemes include audits, ratings, trustees, valuation and phased net worth compliance. Provisional registration for existing collective investment schemes is conditional on obtaining ratings, audits and appraisals of schemes within prescribed periods; creating a trust and appointing trustees as specified; complying with accounting and valuation norms for pre-regulation schemes; observing restrictions on disposal of scheme property and other specified regulatory conditions; meeting staged minimum net worth benchmarks; giving a written undertaking and paying the provisional registration fee. Non-compliance with these conditions and regulation 9 disqualifies the applicant from certificate of registration under regulation 10 and mandates winding up as per regulation 73.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Provisional registration: conditions for existing collective investment schemes include audits, ratings, trustees, valuation and phased net worth compliance.
Provisional registration for existing collective investment schemes is conditional on obtaining ratings, audits and appraisals of schemes within prescribed periods; creating a trust and appointing trustees as specified; complying with accounting and valuation norms for pre-regulation schemes; observing restrictions on disposal of scheme property and other specified regulatory conditions; meeting staged minimum net worth benchmarks; giving a written undertaking and paying the provisional registration fee. Non-compliance with these conditions and regulation 9 disqualifies the applicant from certificate of registration under regulation 10 and mandates winding up as per regulation 73.
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