Separate Scheme Requirement: additional plans with substantially different characteristics must be launched as standalone schemes with full disclosures. Additional plans with substantially different characteristics from the main mutual fund scheme must be launched as separate schemes, not as parts of ongoing open ended schemes. Such launches require board and trustee approval, submission of addenda or separate offer documents to the regulator prior to opening, disclosure of minimum subscription, salient features, risk factors and entry/exit loads, availability of application forms on AMC websites, and separate application of investment restrictions and periodic disclosure obligations to each plan.
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.
Separate Scheme Requirement: additional plans with substantially different characteristics must be launched as standalone schemes with full disclosures.
Additional plans with substantially different characteristics from the main mutual fund scheme must be launched as separate schemes, not as parts of ongoing open ended schemes. Such launches require board and trustee approval, submission of addenda or separate offer documents to the regulator prior to opening, disclosure of minimum subscription, salient features, risk factors and entry/exit loads, availability of application forms on AMC websites, and separate application of investment restrictions and periodic disclosure obligations to each plan.
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