Regulation 40 - Effect of winding up - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

Effect of winding up 40. On and from the date of the publication of notice under clause (b) of sub-regulation (3) of regulation 39, the trustee or the asset management company as the case may be, shall- (a) cease to carry on any business activities in respect of the scheme so wound up; (b) cease to create or cancel units in the scheme; (c) cease to issue or redeem units in the scheme.