Regulation 56 of the Regulations also requires a mutual fund to publish through an advertisement its scheme-wise annual report or an abridged summary thereof not later than six months from the date of closure of relevant accounting year and a copy of the abridged annual report is required to be sent to each unitholder.
In case of applicants at 2(a) above, Value of the licence to be issued in one year shall be limited to 50% of the average CIF Value of imports made by them during the years when this item was under SIL.
