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<h1>Regulation 2 defines key terms for Mutual Funds Regulations including schemes, roles, control thresholds, NAV, and market abuse</h1> Regulation 2 sets out definitions for the Mutual Funds Regulations, specifying key terms used throughout the regime, including 'advertisement,' 'associate,' 'asset management company,' 'control,' 'custodian,' 'depository,' 'fraud,' various scheme types (open/close-ended, index, exchange-traded, fund-of-funds, money-market, gold/silver/real-estate schemes), 'mutual fund,' 'NAV,' 'networth,' 'sponsor,' 'trustees,' 'unit' and 'unit holder,' among others. It clarifies thresholds for control, treatment of trustees and trustee companies, introduces concepts like liquid networth and market abuse, and provides that terms not defined herein shall bear meanings given in relevant securities statutes and associated rules and regulations.