Chapter VIII - NET ASSET VALUE AND TIMELINES FOR ALLOTMENT OF MUTUAL FUND UNITS AND PAYMENT OF INVESTMENT PROCEEDS (From Regulation 43 to Regulation 46)
Mutual fund regulations repealed but prior approvals, proceedings, rights, and pending applications remain effective under new rules. Regulation 85 repeals the 1996 Mutual Funds Regulations on commencement while preserving continuity: actions, approvals, registrations, fees, schemes, proceedings, and penalties under the repealed regulations are deemed to have been taken under corresponding new provisions; pending applications are to be dealt with under the new regulations; and infrastructure debt fund schemes launched before notification remain governed by the 1996 Regulations until wound up.
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.
Mutual fund regulations repealed but prior approvals, proceedings, rights, and pending applications remain effective under new rules.
Regulation 85 repeals the 1996 Mutual Funds Regulations on commencement while preserving continuity: actions, approvals, registrations, fees, schemes, proceedings, and penalties under the repealed regulations are deemed to have been taken under corresponding new provisions; pending applications are to be dealt with under the new regulations; and infrastructure debt fund schemes launched before notification remain governed by the 1996 Regulations until wound up.
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