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

....b) in case of over subscription the extent 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 refu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of ^3[five working days] from the date of closure 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....