Networth and governance reforms: continuous AMC networth maintenance and quarterly trustee review, with tightened timelines for refunds and unit issuance. Amendments update definitions (including sponsor, exchange traded fund, equity related instruments, networth, relative), require AMCs to maintain specified networth continuously with trustees conducting quarterly reviews, exclude loans to sponsors/associates when computing AMC networth, shorten refund and unit-issuance timelines (refunds within five working days; units/demat timelines), require dematerialisation within two working days, set open-ended repurchase price floor at 95% of NAV, mandate segregation and ring-fencing of scheme assets and liabilities, and insert or omit multiple provisos and schedule clauses to align terminology and operational requirements.
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Provisions expressly mentioned in the judgment/order text.
Networth and governance reforms: continuous AMC networth maintenance and quarterly trustee review, with tightened timelines for refunds and unit issuance.
Amendments update definitions (including sponsor, exchange traded fund, equity related instruments, networth, relative), require AMCs to maintain specified networth continuously with trustees conducting quarterly reviews, exclude loans to sponsors/associates when computing AMC networth, shorten refund and unit-issuance timelines (refunds within five working days; units/demat timelines), require dematerialisation within two working days, set open-ended repurchase price floor at 95% of NAV, mandate segregation and ring-fencing of scheme assets and liabilities, and insert or omit multiple provisos and schedule clauses to align terminology and operational requirements.
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