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of <h1>SEBI's Regulation 77 Empowers Clarifications for Mutual Funds, Binding on Sponsors and Asset Management Companies.</h1> Regulation 77 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, grants the Board authority to issue clarifications and guidelines to resolve difficulties related to the application or interpretation of these regulations. These clarifications, issued as notes or circulars, are binding on sponsors, mutual funds, trustees, asset management companies, and custodians.
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