Regulation 32 - Listing of close ended schemes - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

1 [Listing of close ended schemes 32. Every close ended scheme, other than an equity linked savings scheme, shall be listed on a recognised stock exchange within such time period and subject to such conditions as specified by the Board 2 [ . ] 3 [ **** ] ] ************ NOTES:- 1 Substituted by the SEBI (Mutual Funds) (Amendment) Regulations, 2009, w.e.f. 8-4-2009. Prior to its substitution, regulation 32 read as under; Listing of close ended schemes 32. Every close ended scheme shall be listed in a recognized stock exchange within six months from the closure of the subscription: Provided that listing of close ended scheme shall not be mandatory- (a) if the said scheme provides for periodic repurchase facility to all the unitholders with restriction, if any, on the extent of such repurchase; or (b) if the said scheme provides for monthly income or caters to special classes of persons like senior citizens, women, children, widows or physically handicapped or any special class of persons providing for repurchase of units at regular intervals; or (c) if the details of such repurchase facility are clearly disclosed in the offer document; or (d) if the said scheme opens for repurchase within a period of six months from the closure of subscription. *[(e) if the said scheme is a capital protection oriented scheme.] [*Inserted by the SEBI (Mutual Funds) (Third Amendment) Regulations, 2006, w.e.f. 3-8-2006.] 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/08 dated 04-02-2021 w.e.f. 30th day from the date of their publication in the Official Gazette, that is 04-02-2021 before it was read as : 3. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/08 dated 04-02-2021 w.e.f. 30th day from the date of their publication in the Official Gazette, that is 04-02-2021 before it was read as Provided that listing of close ended scheme launched prior to the commencement of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2009 shall not be mandatory - (a) if the said scheme provides for periodic repurchase facility to all the unitholders with restriction, if any, on the extent of such repurchase; or (b) if the said scheme provides for monthly income or caters to special classes of persons like senior citizens, women, children, widows or physically handicapped or any special class of persons providing for repurchase of units at regular intervals; or (c) if the details of such repurchase facility are clearly disclosed in the offer document; or (d) if the said scheme opens for repurchase within a period of six months from the closure of subscription; or (e) if the said scheme is a capital protection oriented scheme.