Applicability of Mutual Funds Lite: a dedicated chapter applies while specified regulations and schedules are expressly excluded. Regulation 80 makes the chapter applicable to Mutual Funds Lite and Mutual Fund Lite schemes, while providing that all other SEBI (Mutual Funds) Regulations, 1996 apply to such funds, trustees and asset management companies except for an explicit list of excluded regulations, clauses and schedules. The provision notes insertion by a SEBI notification and specifies commencement as set out in that notification.