Securities And Exchange Board Of India (Mutual Funds) (Amendment) Regulations, 2000. - S.O. No.235(E) - SEBI/LE/4331/2000

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Fourth Schedule
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<h1>SEBI Amends Mutual Funds Regulations: New Rules on Redemption Delays and Biannual Portfolio Statements.</h1> The Securities and Exchange Board of India (SEBI) has amended the Mutual Funds Regulations, 1996, effective upon publication in the Official Gazette. Key changes include the addition of sub-clauses to Regulation 53, mandating asset management companies to pay interest for delays in dispatching redemption or repurchase proceeds and allowing penalties for such delays. Regulation 59A requires mutual funds to send a complete statement of their scheme portfolio to unit holders biannually, with an alternative of publishing the statement in newspapers. Amendments to the Seventh and Eleventh Schedules involve technical adjustments to wording and clause omissions.

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