Mutual fund distributor access to stock exchange infrastructure enables direct purchase and redemption with direct clearing and demat settlement. Allows Mutual Fund Distributors registered with AMFI, and permitted by the concerned recognised stock exchange, to use recognised stock exchanges' infrastructure to purchase and redeem mutual fund units directly from mutual funds/AMCs on behalf of clients; distributors shall not handle pay-in, pay-out or unit custody, with clearing corporations and depositories ensuring direct settlement to investor accounts and demat accounts, and exchanges shall prescribe permission criteria and operating guidelines.
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 distributor access to stock exchange infrastructure enables direct purchase and redemption with direct clearing and demat settlement.
Allows Mutual Fund Distributors registered with AMFI, and permitted by the concerned recognised stock exchange, to use recognised stock exchanges' infrastructure to purchase and redeem mutual fund units directly from mutual funds/AMCs on behalf of clients; distributors shall not handle pay-in, pay-out or unit custody, with clearing corporations and depositories ensuring direct settlement to investor accounts and demat accounts, and exchanges shall prescribe permission criteria and operating guidelines.
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