Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2019

Sep 26, 2019 | by Avantis RegTech Legal Research Team


The Securities and Exchange Board of India (SEBI) on September 23, 2019, has published the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2019 to further amend the SEBI (Mutual Funds) Regulations, 1996. These Regulations shall come into force on the date of their publication in the Official Gazette that is September 23, 2019.

Ø  The amendments are made in Regulation 24(b) related to “Restrictions on business activities of the asset management company” of the SEBI (Mutual Funds) Regulations, 1996whichspecifies that the asset management company shall not undertake any business activities other than in the nature of management and advisory services provided to pooled assets including offshore funds, insurance funds, pension funds, provident funds, such categories of foreign portfolio investor subject to such conditions, as maybe specified by the Board from time to time. These amendments in Regulation 24 shall come into force with effect from October 15, 2019.

Ø  The amendments are also made in Seventh Schedule, Eighth Schedule, Ninth Schedule and Eleventh Schedule.

[Notification No.SEBI/LAD-NRO/GN/2019/37]


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.