Uniform NAV cut-off timings determine applicable NAV for mutual fund purchases, redemptions, switches and sweeps. Uniform cut-off timings determine the NAV applicable to mutual fund transactions (excluding international schemes and exchange trades). Mutual funds must uniformly apply cut-off timings, promptly deposit subscription instruments into banks, and the asset management company must indemnify losses from non-compliance. Distinct prospective NAV rules govern liquid funds and other schemes for purchase, repurchase, switch and sweep transactions. Official points of acceptance must be disclosed, time-stamping machines deployed with specified safeguards, and compliance reported in periodic trustee and compliance reports; guidelines are to be disclosed in offer documents.
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.
Uniform NAV cut-off timings determine applicable NAV for mutual fund purchases, redemptions, switches and sweeps.
Uniform cut-off timings determine the NAV applicable to mutual fund transactions (excluding international schemes and exchange trades). Mutual funds must uniformly apply cut-off timings, promptly deposit subscription instruments into banks, and the asset management company must indemnify losses from non-compliance. Distinct prospective NAV rules govern liquid funds and other schemes for purchase, repurchase, switch and sweep transactions. Official points of acceptance must be disclosed, time-stamping machines deployed with specified safeguards, and compliance reported in periodic trustee and compliance reports; guidelines are to be disclosed in offer documents.
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