Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2000.

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....change Board of India Act, 1992 (15 of 1992) the Board hereby makes the following Regulations further to amend the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, namely: I. (1) These Regulations may be called the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2000. (2) They shall come into force on the date of their publication in ....

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....ion where the Head Office of the mutual fund is situated; and (ii) the unit holders are given an option to exit at the prevailing Net Asset Value without any exit load." (2) In regulation 22, the existing clause (e), shall be substituted by the following new clause (e) - "(e) no change in the controlling interest of the asset management company shall be made unless, - (i) prior approval of t....

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....low investment grade by a credit rating agency registered with the Board." (b) the clause (11), shall be substituted by the following: "(11) A mutual fund scheme shall not invest more than 5% of its NAV in the unlisted equity shares or equity related instruments in case of open ended scheme and 10% of its NAV in case of close ended scheme." [F. No. SEBI/LE/7502/2000] D. R. MEHTA, Chairman Fo....