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....Second Amendment) Regulations, 2006 w.e.f. 22-5-2006.] 2 substituted for 'Initial Expenses' by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2006 w.e.f. 22-5-2006. 3 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 1998 w.e.f. 12-1-1998. 4 Inserted ibid. 5 Inserted ibid.. 6 Inserted ibid. 7 Substituted by the SEBI (Mutual Funds) (Amendment)....

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....open ended schemes shall not be amortised." 9 Substituted by the SEBI (Mutual Funds) (Amendment) Regulations, 2008, w.e.f. 16-4-2008. Prior to its substitution, clause (d) read as under; " (d) In case of closed-ended *[***] floated on a 'load' basis, the unamortised portion of the expenses shall be included in the calculation of the NAV. However, such portion shall not be included in the ....

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....e first year, 3% in the second year, 2% in the third year and 1% in the fourth year." 11. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/08 dated 04-02-2021 w.e.f. 30th day from the date of their publication in the Official Gazette, that is 04-02-2021 before it was read as "TENTH SCHEDULE Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 ^1[[Regulation 49(3....

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....ify to be "no load" schemes and would be treated in the same manner as "load" schemes. In the case of a no-load scheme, the initial issue expenditure shall be borne by the Asset Management Company ^6[, trustee company or sponsor]. (b) ^7[For a close-ended scheme floated on a 'load' basis prior to commencement of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, ....