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        SEBI

        Regulation 77 - Power of the Board to issue clarifications

        Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
        Chapter X
        MISCELLANEOUS

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        Power to issue clarifications: Board may issue binding notes or circulars clarifying regulations for mutual funds and intermediaries. Regulation 77 vests the Board with power to issue clarifications and guidelines in the form of notes or circulars to remove difficulties in application or interpretation of the regulations; those clarifications are binding on the sponsor, mutual funds, trustees, asset management companies and custodians.
                        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.

                            Power to issue clarifications: Board may issue binding notes or circulars clarifying regulations for mutual funds and intermediaries.

                            Regulation 77 vests the Board with power to issue clarifications and guidelines in the form of notes or circulars to remove difficulties in application or interpretation of the regulations; those clarifications are binding on the sponsor, mutual funds, trustees, asset management companies and custodians.


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