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    <description>Regulation 2 provides a comprehensive glossary for the mutual fund regulatory framework: it defines a mutual fund as a registered trust issuing units under schemes to invest in specified instruments; identifies and defines principal entities and roles (asset management company, sponsor, trustees, custodian, associate); sets thresholds for control, net worth and liquid assets; classifies scheme types (open/close-ended, equity oriented, index funds, ETFs, fund of funds, MF Lite, specialized strategies and infrastructure-focused schemes); and defines investor-facing and operational terms such as offer document, private placement, exit load, NAV and total expense ratio, while cross-referencing other statutes for undefined terms.</description>
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