Procedure and manner of winding up of schemes

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....on (4) of regulation 36, shall be carried out in accordance with the following: (a) the trustees shall call a meeting of the unitholders to seek approval with simple majority of the unitholders authorizing the trustees or any other person to take steps for winding up of the scheme under clauses (a) and (b) of sub-regulation (2) of regulation 36; (b) the trustees or any other pers....

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....n for winding up was taken; Explanation: For the purpose of this clause: i. The costs related to custodian fees, audit fees and investor communication are unavoidable till the schemes are wound-up and therefore the said costs can be considered as winding up costs for terminating a fund or a scheme; and ii. investment and advisory fees and distribution commission shall no....