https://www.taxtmi.com/acts?id=41839 Regulation 7C allows a sponsor to disassociate from an asset management company and its mutual fund subject to Board specified conditions; the existing asset management company may then act as sponsor subject to such conditions. After disassociation, any shareholder's holding must be below ten percent and the asset management company's board must have at least two thirds independent directors. If the asset management company fails to meet these conditions, the dissociated sponsor or a new entity may become the sponsor under Board conditions. en-us Wed, 28 Jun 2023 15:25:14 +0530 Fri, 06 Sep 2024 14:13:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=41839 Regulation 7C allows a sponsor to disassociate from an asset management company and its mutual fund subject to Board specified conditions; the existing asset management company may then act as sponsor subject to such conditions. After disassociation, any shareholder's holding must be below ten percent and the asset management company's board must have at least two thirds independent directors. If the asset management company fails to meet these conditions, the dissociated sponsor or a new entity may become the sponsor under Board conditions. Act-Rules SEBI Wed, 28 Jun 2023 15:25:14 +0530 https://www.taxtmi.com/acts?id=41839