Regulation 56 - Providing copies of Annual report and summary thereof - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

1 [Providing copies of Annual report and summary thereof] 56. (1) The scheme wise Annual Report of a mutual fund or an abridged summary thereof 2 [***] shall be 3 [provided] to all unitholders as soon as may be but not later than 4 [four months] from the date of closure of the relevant accounts year 5 [in the manner specified by the Board]. 6 [****] (2) The Annual Report and abridged summary thereof shall contain details as specified in the Eleventh Schedule and such other details as are necessary for the purpose of providing a true and fair view of the operations of the mutual fund: 7 [Provided that the abridged scheme wise Annual Report 8 [provided] to the unitholders is in the format prescribed by the Board in this regard.] 9 [(3) Notwithstanding anything contained in sub-regulation (1), the 15 [ asset management company ] shall provide physical copy of the abridged summary of the Annual Report without any cost, if a request through any mode is received from a unitholder.] 10 [(3A)] The report 11 [ 12 [provided] in abridged summary form as per sub-regulation (1)] shall carry a note that 13 [for unitholders of a scheme] full Annual Report shall be available for inspection at the Head Office of the mutual fund and a copy thereof shall be made available to unitholder on payment of such nominal fees as may be specified by the mutual fund. 14 [(4) The asset management company shall display the link of the full scheme wise annual reports prominently on their website.] ************* NOTES:- 1 Title substituted by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2018, w.e.f. 30.5.2018. Prior to the amendment, the title read as Mailing of Annual Report and summary thereof . The word Mailing appeared therein was substituted for the word Publication by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2002, w.e.f. 20-2-2002. 2 Words shall be published through an advertisement and an abridged schemewise annual report omitted by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2002, w.e.f. 20-2-2002. Prior to this the words and an abridged schemewise annual report shall be mailed to all unitholders had been inserted by SEBI (MF) Amend. Regulations, 1998. 3 Substituted for the word mailed by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2018, w.e.f. 30.5.2018. 4 Substituted for six months by the SEBI (Mutual Funds) (Third Amendment) Regulations, 2008, w.e.f. 29-9-2008. 5 Inserted by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2018, w.e.f. 30.5.2018. 6 Proviso omitted by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2018, w.e.f. 30.5.2018. Prior to the omission, the proviso read as follows: Provided that the scheme wise annual report or abridged summary thereof may be sent to investors in electronic form on their registered e-mail address in the manner specified by the Board 7 Substituted by the SEBI (Mutual Funds) (Third Amendment) Regulations, 2008, w.e.f. 29-9-2008. Prior to this,) proviso read as under; Provided that the abridged scheme wise annual report mailed to unitholders need not contain full portfolio disclosure but must contain details on group company investments such as the name of the company, the amount of investment made in each company of the group by each scheme and the aggregate investments made by all schemes in the group companies of the sponsor. #[***]] [* Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 1998, w.e.f. 12-1-1998] [# Omitted by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2002, w.e.f. 20-2-2002. Prior to this it had been inserted by the SEBI (Mutual Funds) Amend. Regulations, 1998 as, Provided further that full portfolio disclosure is not required if the full accounts are published in newspapers. ] 8 Substituted for the word mailed by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2018, w.e.f. 30.5.2018. 9 Inserted ibid. 10 Renumbered by the by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2018, w.e.f. 30.5.2018. 11 Substitute for if published in summary form by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2002, w.e.f. 20-2-2002 12 Substituted for the word mailed by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2018, w.e.f. 30.5.2018. 13 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 1998, w.e.f. 12-1-1998. 14 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 2011, w.e.f. 30-8-2011. 15. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/134 dated 26-06-2023 w.e.f. 01-01-2024 before it was read as, mutual fund