Corporate debt purchase rules: fund may buy eligible listed investment grade securities during market dislocation under prescribed limits. During market dislocation the Corporate Debt Market Development Fund may purchase listed, investment grade corporate debt securities from specified mutual fund schemes that have limited residual maturity and no material default risk, with the Board deciding the trigger and reversal. Purchases are pro rata to mutual fund contributions, priced fairly with adjustments for liquidity, interest rate and credit risks but not at distress prices, held to maturity or sold on reversal, and sellers may share losses above their pro rata holdings; outside dislocation the Fund invests in liquid, low risk debt instruments and follows Board specifications.
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.
Corporate debt purchase rules: fund may buy eligible listed investment grade securities during market dislocation under prescribed limits.
During market dislocation the Corporate Debt Market Development Fund may purchase listed, investment grade corporate debt securities from specified mutual fund schemes that have limited residual maturity and no material default risk, with the Board deciding the trigger and reversal. Purchases are pro rata to mutual fund contributions, priced fairly with adjustments for liquidity, interest rate and credit risks but not at distress prices, held to maturity or sold on reversal, and sellers may share losses above their pro rata holdings; outside dislocation the Fund invests in liquid, low risk debt instruments and follows Board specifications.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
