Custody of silver instruments extended under custodian regulations, with prior Board approval required for providing custodial services to mutual funds. The amendments extend custody definitions and obligations in the Custodian Regulations, 1996 to include 'silver or silver related instruments' alongside gold instruments across regulation 2, regulation 6(1)(ba), regulation 8 and regulation 15. A new sub regulation in regulation 8 requires custodians registered at commencement to obtain prior Board approval before providing custodial services for silver or silver related instruments held by a mutual fund, and textual insertions ensure consistent custody references for silver in provisos and clauses addressing assets and exchange traded fund schemes.
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Provisions expressly mentioned in the judgment/order text.
Custody of silver instruments extended under custodian regulations, with prior Board approval required for providing custodial services to mutual funds.
The amendments extend custody definitions and obligations in the Custodian Regulations, 1996 to include "silver or silver related instruments" alongside gold instruments across regulation 2, regulation 6(1)(ba), regulation 8 and regulation 15. A new sub regulation in regulation 8 requires custodians registered at commencement to obtain prior Board approval before providing custodial services for silver or silver related instruments held by a mutual fund, and textual insertions ensure consistent custody references for silver in provisos and clauses addressing assets and exchange traded fund schemes.
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