Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2009
No. LAD- NRO/GN/2009-10/07/165404.- In exercise of the powers
conferred by section 30 of the Securities and Exchange Board
of India Act, 1992 (15 of 1992), the Board hereby makes the
following regulations to further amend the Securities and
Exchange Board of India (Mutual Funds) Regulations, 1996,
namely :-
1. These regulations may be called the Securities and Exchange
Board of India (Mutual Funds) (Second Amendment) Regulations,
2009.
2. They shall come into force on the date of their publication
in the Official Gazette.
3. In the Securities and Exchange Board of India (Mutual Funds)
Regulations, 1996–
(i) in Seventh Schedule,-
(a) in item (1), in the first Proviso, the words “and
money market instruments” shall be omitted;
(b) after item 1A, a new item 1B shall be inserted, namely:-
“1B. No mutual fund scheme shall invest more than thirty
percent of its net assets in money market instruments of an
issuer:
Provided that such limit shall not be applicable for investments
in Government securities, treasury bills and collateralized
borrowing and lending obligations.”
|
