The Securities and Exchange Board of India (SEBI) on December 16, 2024, notified Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2024 further to amend the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
The following has been stated: -
•In Chapter II, in Regulation 11, after the words and symbol “in Regulation 7”, the words and symbol “or Regulation 81” shall be inserted.
•In Chapter IV, in Regulation 23, after the words and symbol “in Regulation 21”, the words and symbol “and Regulation 86” shall be inserted.
•In Chapter VI, in Regulation 43, after sub-regulation (7), the following sub-regulation shall be inserted, namely, — “(8) Money collected under the investment strategies of a Specialized Investment Fund shall be invested under regulation 49Z.”
•After Chapter VI-B, the following chapter and regulations shall be inserted:— Chapter VI-C Specialized Investment Fund.
They shall come into force on December 16, 2024.
The detailed notification is given in the document below.
[Notification No. SEBI/LAD-NRO/GN/2024/221]
