Mutual fund transactions via stock exchange infrastructure permitted; clearing members and depositories may process trades subject to conduct and operating rules. Clearing members may facilitate purchase and redemption of mutual fund units through broker/clearing member pool accounts, and depository participants may process redemption requests for dematerialised units; payment of redemption proceeds to, and crediting of units into, the broker/clearing member pool account discharges the mutual fund/AMC of its obligation to the individual investor, with brokers/clearing members responsible for onward settlement to investors.
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 transactions via stock exchange infrastructure permitted; clearing members and depositories may process trades subject to conduct and operating rules.
Clearing members may facilitate purchase and redemption of mutual fund units through broker/clearing member pool accounts, and depository participants may process redemption requests for dematerialised units; payment of redemption proceeds to, and crediting of units into, the broker/clearing member pool account discharges the mutual fund/AMC of its obligation to the individual investor, with brokers/clearing members responsible for onward settlement to investors.
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