Securities And Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2006.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996: (i) in regulation 33, in sub-regulation (3) - (a) in clause (b), the figure and word "; and" shall be inserted at the end; (b) after clause (b), the following clause shall be inserted, namely: "(c) the initial issue expenses of the scheme have been amortised fully in accordance with the Tenth Schedule." (ii) in regulation 45, the proviso shall be substituted with the following, namely: "Provided that a mutual fund may enter into derivatives transactions in a recognised stock exchange, subject to such Guidelines as may be specified by the Board.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the scheme." (iv) in regulation 52:- (a) in sub-regulation (4), clause (a) shall be substituted with the following, namely - "(a) initial expenses of launching close-ended schemes, which shall be accounted in the books of account of the scheme in accordance with the Tenth Schedule;" (b) in sub-regulation (5), the first proviso shall be substituted with the following, namely - "Provided that initial expenses of launching a close-ended scheme shall not exceed six per cent. of initial resources raised under that scheme:" (v) after regulation 52, the following regulation shall be inserted, namely:- "Declaration of dividends 52A. A mutual fund may declare dividends in accordance with the offer document and sub....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 1999 vide S.O. No.1223(E). (d) on March 14, 2000 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2000 vide S.O. No.235 (E). (e) on March 28, 2000 by the Securities and Exchange Board of India (Appeal to the Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide S.O. No.278(E). (f) on May 22, 2000 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2000 vide S.O. No.484 (E). (g) on January 23, 2001 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2001 vide S.O. No.69 (E). (h) on May 29, 2001 by the Securities and Exchang....