Mutual fund regulation: SEBI notified comprehensive mutual fund regulations under its statutory powers to regulate the market. The notification promulgates the SEBI (Mutual Funds) Regulations, 1996, issued under the exercise of powers under section 30 read with clause (c) of sub section (2) of section 11, and published by Gazette notification S.O. 856 (E) dated 9 December 1996, thereby establishing a regulatory framework for the formation, management and supervision of mutual funds within the regulator's rule making authority.