Compliance period for incidental acquisitions: mutual fund sponsors must meet regulation 7B compliance within one year after corporate restructures. The amendment inserts a proviso to regulation 7B providing that if a merger, acquisition, scheme of arrangement or other arrangement involving sponsors, shareholders of asset management companies or trustee companies, their associates or group companies leads to the incidental acquisition of shares, voting rights or board representation in the asset management or trustee companies, compliance with regulation 7B must be completed within a specified transitional period following such arrangement.
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.
Compliance period for incidental acquisitions: mutual fund sponsors must meet regulation 7B compliance within one year after corporate restructures.
The amendment inserts a proviso to regulation 7B providing that if a merger, acquisition, scheme of arrangement or other arrangement involving sponsors, shareholders of asset management companies or trustee companies, their associates or group companies leads to the incidental acquisition of shares, voting rights or board representation in the asset management or trustee companies, compliance with regulation 7B must be completed within a specified transitional period following such arrangement.
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