Change in control of portfolio managers: investors must be informed and given at least 30 days exit without exit load. Once prior approval for a change in control is granted, the portfolio manager must inform existing investors/clients before effecting the change and provide an option to exit without any exit load for at least 30 calendar days from the date of communication; for co investment portfolio management services, the portfolio manager must ensure compliance with the second proviso of Regulation 22(2). All other prior circular requirements 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.
Change in control of portfolio managers: investors must be informed and given at least 30 days exit without exit load.
Once prior approval for a change in control is granted, the portfolio manager must inform existing investors/clients before effecting the change and provide an option to exit without any exit load for at least 30 calendar days from the date of communication; for co investment portfolio management services, the portfolio manager must ensure compliance with the second proviso of Regulation 22(2). All other prior circular requirements remain unchanged.
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