Chapter VIII - NET ASSET VALUE AND TIMELINES FOR ALLOTMENT OF MUTUAL FUND UNITS AND PAYMENT OF INVESTMENT PROCEEDS (From Regulation 43 to Regulation 46)
Close-ended mutual fund units: repurchase prohibited before maturity; conversion, redemption and rollover rules require disclosure and consent. Regulation 30 bars repurchase of units of close-ended schemes launched on or after the specified amendment commencement until maturity. Conversion to open-ended status is allowed only where the offer document discloses the conversion option and timeframe and unitholders are given the option to redeem in full. On maturity schemes shall be fully redeemed unless unitholders give written consent to a rollover after filing the offer document; non-consenting unitholders must be redeemed in full at the net asset value prevailing on the maturity date.
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.
Close-ended mutual fund units: repurchase prohibited before maturity; conversion, redemption and rollover rules require disclosure and consent.
Regulation 30 bars repurchase of units of close-ended schemes launched on or after the specified amendment commencement until maturity. Conversion to open-ended status is allowed only where the offer document discloses the conversion option and timeframe and unitholders are given the option to redeem in full. On maturity schemes shall be fully redeemed unless unitholders give written consent to a rollover after filing the offer document; non-consenting unitholders must be redeemed in full at the net asset value prevailing on the maturity date.
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