July 14, 1993
CHIEF EXECUTIVE/MANAGING DIRECTOR/
EXECUTIVE TRUSTEE/CHIEF EXECUTIVE/
Canbank Mutual Fund/Unit Trust of India/
SBI Funds Management Ltd/BOI Mutual Fund/
LIC Mutual Fund/GIC Mutual Fund/
Indian Bank Mutual Fund/PNB Mutual Fund/
BOB Mutual Fund
Sub : Reporting by Mutual Funds – New Scheme Returns.
In terms of Regulation 55(i) of Securities and Exchange Board of India (Mutual Funds) Regulations 1993, the Board has prescribed New Scheme Report to be submitted by all Mutual Funds. The prescribed formats of the Report, viz., Form “A” and “B”, are enclosed herewith.
Further all Mutual Funds are hereby advised to adhere to the undermentioned time frame in respect of all new schemes.
|Sr.No.||Particulars||Time Limit (Days)|
|01.||Date of Commencement of Issue||T|
|02.||Outer time limit for closure of scheme as per Regulation 32||T+45|
|03.||Outer time limit for sending refunds in case the minimum subscription for schemes is not received as per Regulation 33||T+87|
|04.||Outer Limit for date of allotment——————————————
Open ended Schemes
Close ended Schemes
|05.||Outer Limit for sending Unit Certificates—————————————–
Open ended schemes
Close ended schemes
– 2 –
Please note that, New Scheme Returns in the prescribed Form “A” must be submitted within 90 days from the closing date of the scheme or the initial subscription period. The prescribed Report in Form “B” shall be submitted by all Mutual Funds within 115 days from the closing date of the scheme or the initial subscription period.
Kindly acknowledge receipt of the letter.