Regulation 134 requires a Fund Management Entity to prepare an annual report of accounts and abridged summary for each scheme and submit both within four months after the financial year ends. The reports must contain sufficient details to provide a true and fair view of scheme operations. Investors must receive the abridged summary within the same period, while a requested full annual report must be supplied within fifteen days.

Redemption of close-ended schemes requires full redemption at the end of the maturity period unless the scheme's tenure has been extended in accordance with the applicable regulations.

Intra-BRICS trade cooperation prioritises wider market access, diversified supply chains, simplified regulatory procedures and faster consignment clearance. Cooperation is proposed across agriculture, services, manufacturing, startups and emerging technologies, including professional mobility and recognition of qualifications. Payment-system linkages, local-currency trade, digital public infrastructure, artificial intelligence, fintech, data centres and semiconductors are identified as areas for collaboration. Trade facilitation, digital documentation, MSME support, business partnerships and stronger global value chains are intended to support economic integration.

Regulation 132 requires an FME to appoint an independent custodian for retail schemes, open-ended restricted schemes, and other schemes with assets under management above USD 70 million, subject to an exemption for fund of funds schemes whose underlying schemes have independent custodians. Custodians must ordinarily be based in IFSC, although a locally regulated custodian may be appointed where the securities jurisdiction requires it. A 24-month transition period permits appointment of a regulated custodian in India or another foreign jurisdiction for schemes required to appoint an IFSC-based custodian.

Refund functions under the Delhi Goods and Services Tax framework are assigned to all Assistant Commissioners and GST Officers posted in any ward within the jurisdiction of their respective zones in the National Capital Territory of Delhi. The assignment concerns functions of the proper officer for processing refunds under Section 54 and partially modifies the territorial-jurisdiction arrangement.

Bankers' Books Evidence Act, 2026 modernises the evidentiary framework for banking records and replaces the earlier legislation. It recognises records maintained in physical, electronic, digital, virtual, cloud-based, and other contemporary forms. Certification is simplified and standardised, including through manual, digital, or electronic signatures. Summoning a bank official where the bank is not a party requires special cause recorded in writing by the court. The framework may be extended to specified financial-sector entities or classes of entities.

Scheme winding up may occur on expiry of the stated tenure, approval by investors representing seventy-five per cent by investment value, failure to achieve the minimum corpus without extending the placement memorandum or offer document validity through required filing and fee payment, or voluntary closure where no investors have been onboarded and no funds collected. In the interest of investors and orderly market development, the Authority may direct scheme winding up, scheme mergers, or management of schemes of other Fund Management Entities.

Merger, demerger, or restructuring of schemes requires prior approval of the Authority and compliance with conditions specified by the Authority.

A Fund Management Entity may, at its discretion, constitute an Investment Committee to make investment decisions for its schemes. Members of the Investment Committee must, to the extent applicable, comply with all responsibilities imposed on the Fund Management Entity and Fund Managers under the governing regulations.

Fees and expenses must be clearly identified and appropriated separately for each scheme. The FME must disclose in the offer document or placement memorandum the maximum fees and expenses it may charge, with every expense shown separately as a specific line item.

Regulation 127 requires any advertisements issued by an FME to conform to the Advertisement Code prescribed in the Fifth Schedule to the International Financial Services Centres Authority (Fund Management) Regulations, 2025. The requirement establishes compliance with that Code as the governing standard for advertising by an FME and links advertising activity to the scheduled compliance framework.

A Fund Management Entity must pay annual fees, scheme filing fees, and any other fees specified by the Authority from time to time under the International Financial Services Centres Authority (Fund Management) Regulations, 2025.

Direct or indirect change in control of a Fund Management Entity requires prior approval. A branch Fund Management Entity need only inform the Authority within fifteen days where prior approval is required from its sectoral regulator at its principal place of operation. Approval may be subject to appropriate conditions, including an opportunity for investors to exit.

Guaranteed returns in a scheme or under a portfolio management services agreement are prohibited unless the fund management entity fully guarantees them. The offer document or agreement must disclose the guarantee, its details, and the manner in which it will be fulfilled.

Fund Management Entities must maintain a sound system for comprehensive risk management. Adequate internal procedures and controls, appropriate to the businesses undertaken and including outsourced activities, are required to protect clients' and investors' interests and assets and ensure proper risk management.

Registered FMEs must maintain a robust cyber security and cyber resilience framework in accordance with requirements specified by the Authority from time to time. This creates an ongoing compliance responsibility to align cyber security and resilience arrangements with applicable regulatory requirements.

Registered Fund Management Entities must maintain a business continuity plan containing procedures to address emergencies or significant business disruptions. The plan must be updated following any material change in operations, structure, business, or location, and reviewed annually to ensure it remains appropriate.

Information to the Authority requires fund management entities, fiduciaries and persons involved in regulated activities to furnish reports, returns, statements and particulars accurately and within prescribed timelines, intervals, forms and manner. The Authority may call for information, documents or records from fund management entities and entities engaged by them for related functions. A fund management entity must furnish requested information accurately within the specified time.

Fund management entities must maintain scheme-specific books, records and documents that explain transactions, disclose financial position, and present a true and fair view of scheme affairs. Electronically retrievable financial, audit, compliance, client-account and regulated-activity records must be preserved for at least eight years. Records relating to scheme assets, valuation practices, investment strategies, investor contributions and investment rationale must be retained electronically for at least five years after scheme winding up.

Every Fund Management Entity, its fiduciaries and key managerial personnel, including the Principal Officer, Fund Managers and Designated Compliance Officer, must comply with the Code of Conduct specified in the Third Schedule to the International Financial Services Centres Authority (Fund Management) Regulations, 2025.