Investment, borrowing, restriction, etc.

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.... Schedule: ^1[Provided that nothing in the Seventh Schedule ^7[, save clause 14 therein,] shall apply to a gold exchange traded fund scheme ^8[and silver exchange traded fund scheme].] ^2[(1A) The mutual fund having an aggregate of securities which are worth Rs. 10 crores or more, as on the latest balance-sheet date, shall subject to such instructions as may be issued from time to time by th....

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....he Board.] ^5[(5) A gold exchange traded fund scheme shall be subject to the following investment restrictions: (a) ^6[***] (b) the funds of any such scheme shall be invested only in gold or gold related instruments in accordance with its investment objective, except to the extent necessary to meet the liquidity requirements for honouring repurchases or redemptions, as disclos....

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....** NOTES:- 1 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 2006, w.e.f. 12-1-2006. 2 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 1998, w.e.f. 12-1-1998. 3 Substituted by the SEBI (Mutual Funds) (Amendment) Regulations, 2011, w.e.f. 30-8-2011. Prior to its substitution, sub-regulation (3) read as under; "(3) The mutual fund shall not advance a....