Sponsor investment requirement: mandatory non-redeemable contribution to new fund offers, with Board-specified scheme option. For gold exchange traded fund schemes, assets of the scheme being gold or gold-related instruments may be kept in the custody of a custodian registered with the Board. The sponsor or asset management company must make a mandatory investment in the new fund offer at a minimum prescribed level, and such investment shall not be redeemed unless the scheme is wound up; the Board may specify the option of the scheme in which that investment is made.
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.
Sponsor investment requirement: mandatory non-redeemable contribution to new fund offers, with Board-specified scheme option.
For gold exchange traded fund schemes, assets of the scheme being gold or gold-related instruments may be kept in the custody of a custodian registered with the Board. The sponsor or asset management company must make a mandatory investment in the new fund offer at a minimum prescribed level, and such investment shall not be redeemed unless the scheme is wound up; the Board may specify the option of the scheme in which that investment is made.
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