Trustees' certification of scheme novelty required; offer documents must state approval and non minor modification status. Trustees must certify that an approved scheme is a new product of the mutual fund and not a minor modification of an existing scheme; this certification and the trustees' approval date must be disclosed in the offer document. The requirement supplements the existing trustee certification and applies to all offer documents pending clearance, excluding Fixed Maturity Plans and traditional close ended schemes but including close ended schemes convertible to open ended on maturity.
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.
Trustees' certification of scheme novelty required; offer documents must state approval and non minor modification status.
Trustees must certify that an approved scheme is a new product of the mutual fund and not a minor modification of an existing scheme; this certification and the trustees' approval date must be disclosed in the offer document. The requirement supplements the existing trustee certification and applies to all offer documents pending clearance, excluding Fixed Maturity Plans and traditional close ended schemes but including close ended schemes convertible to open ended on maturity.
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