Transferability of mutual fund units: generally free, listed close ended units must be dematerialised and transfers registered promptly. Units are freely transferable unless restricted by the scheme; holders wishing to trade units of a listed close ended scheme must hold them in dematerialised form. The asset management company must, on production of the transfer instrument and unit certificates, register the transfer and return the certificate to the transferee within thirty days; if units are with a depository, transfers follow the depository regulations.