https://www.taxtmi.com/circulars?id=59441 Initial issue expenses are permitted only for closed-ended schemes, which then must not levy entry load; amortised issue expenses may be recovered proportionately on redemption prior to full amortisation, and conversion to open-ended status or fresh issuance is allowed only after full recovery of unamortised issue expenses. Trustees must fix dividend quantum and record date, dividends are payable only from distributable surplus, NAV will be adjusted for payout and statutory levy on the record date, and AMCs must issue timely public notice; frequent dividend options with disclosure may be exempt from notice requirements. en-us Tue, 04 Apr 2006 00:00:00 +0530 Tue, 05 Feb 2019 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=59441 Initial issue expenses are permitted only for closed-ended schemes, which then must not levy entry load; amortised issue expenses may be recovered proportionately on redemption prior to full amortisation, and conversion to open-ended status or fresh issuance is allowed only after full recovery of unamortised issue expenses. Trustees must fix dividend quantum and record date, dividends are payable only from distributable surplus, NAV will be adjusted for payout and statutory levy on the record date, and AMCs must issue timely public notice; frequent dividend options with disclosure may be exempt from notice requirements. Circulars SEBI Tue, 04 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/circulars?id=59441