SEBI (Mutual Funds) (Amendment) Regulations, 2006 - GETF

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....    Gold b)     Gold related instruments - Regulation 2(mc) stipulates that gold related instruments are such instruments having gold as underlying, as are specified by SEBI from time to time. It is clarified in accordance with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996 that, as of now, Gold ETF schemes can invest primarily in Gold. They can invest in gold related instruments only after such instruments are specified by SEBI. Yours faithfully, SUDEV C. DAS Encl : a/a   THE GAZETTE OF INDIA EXTRAORDINARY PART -II - SECTION 3 - SUB SECTION (ii) PUBLISHED BY AUTHORITY SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 12th ....

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....all be inserted, namely:- "Provided that in case of a gold exchange traded fund scheme, the assets of the scheme being gold or gold related instruments may be kept in custody of a bank which is registered as a custodian with the Board." (iv) regulation 43 shall be substituted with the following, namely:- "Investment objective 43. (1) Subject to other provisions of these regulations, a mutual fund may invest moneys collected under any of its schemes only in - (a)      securities; (b)      money market instruments; (c)       privately placed debentures; (d)      securitised debt instruments, which are either asset b....

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....clause (b), the mutual fund may invest such funds in short term deposits of scheduled commercial banks." (vi) in regulation 52, in sub-regulation (4), in clause (b):- (a)   in sub-clause (xii), the word 'and' appearing at the end thereof, shall be omitted; (b)   after sub-clause (xii), the following sub-clause shall be inserted, namely, "(xii-a) in case of a gold exchange traded fund scheme, recurring expenses incurred towards storage and handling of gold; and," F.No. SEBI/LAD/DOP/ 25601 /2006 M. DAMODARAN CHAIRMAN SECURITIES AND EXCHANGE BOARD OF INDIA Footnotes: (1)   The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, the Principal Regulations were publi....

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.... No.476(E). (i)     on July 23, 2001 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2001 vide S.O. No.698(E). (j)      on February 20, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2002 vide S.O. No.219 (E). (k)   on June 11, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2002 vide S.O. No.625 (E). (l)      on July 30, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2002 vide S.O. No.809(E). (m) on September 9, 2002 by the Securit....