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    <title>Approval requirements</title>
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    <description>Regulation 48 permits a mutual fund registered under clause (e) of regulation 3 to obtain approval to launch a Specialized Investment Fund subject to eligibility criteria and Board-specified procedures, and it specifies that the mutual fund need not establish a separate trust to launch any investment strategy under the Specialized Investment Fund.</description>
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      <description>Regulation 48 permits a mutual fund registered under clause (e) of regulation 3 to obtain approval to launch a Specialized Investment Fund subject to eligibility criteria and Board-specified procedures, and it specifies that the mutual fund need not establish a separate trust to launch any investment strategy under the Specialized Investment Fund.</description>
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