Allotment of units and refunds of money

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....xtent of subscription it may retain : Provided that where the asset management company retains the over subscription referred to in clause (b), all the applicants applying upto five thousand units shall be given full allotment subject to the over subscription mentioned in clause (b). (2) The mutual fund and asset management company shall be liable to refund the application money to the applicant....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the subscription list: 7[(5) The scheme shall deploy the funds received in new fund offer within the time period as may be specified by the Board from time to time.] 6[****]   ************* NOTES:- 1 Substituted for "six weeks" ibid. 2 Inserted by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2013 w.e.f. 19-6-2013 3 Substituted for "six weeks", ibid. 4 Inserted by th....