Sponsor registration flexibility allows parallel mutual fund and mutual fund lite registrations with intra-group scheme transfers. Regulation 82 permits sponsors to obtain separate registrations for a mutual fund and a mutual fund lite and to transfer qualifying passive schemes to a mutual fund lite within the sponsor's group subject to Board-prescribed conditions, with the transferor mutual fund barred from launching such qualifying passive schemes thereafter; it also allows comparable shareholding migration by significant shareholders into mutual fund lite asset management companies within the same sponsor group, and permits migration of an existing mutual fund to a mutual fund lite by surrendering registration under Board-specified procedures.