Mutual fund disclosure: prior unitholder notice and public advertisement required before first investment in ADRs/GDRs or foreign securities. Where a scheme's offer document did not disclose investment in ADRs/GDRs/foreign securities, the asset management company must, prior to the first such investment, send a written communication to each unitholder and advertise in one English national daily plus a regional-language newspaper; the communication must disclose the risk factors of those investments. Schemes that have already disclosed such investment permission in the offer document are exempt, and all other conditions in earlier circulars remain unchanged.
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 disclosure: prior unitholder notice and public advertisement required before first investment in ADRs/GDRs or foreign securities.
Where a scheme's offer document did not disclose investment in ADRs/GDRs/foreign securities, the asset management company must, prior to the first such investment, send a written communication to each unitholder and advertise in one English national daily plus a regional-language newspaper; the communication must disclose the risk factors of those investments. Schemes that have already disclosed such investment permission in the offer document are exempt, and all other conditions in earlier circulars remain unchanged.
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