Schedule - 10 - Omitted - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

11 [ **** ] ************ NOTES:- 1 Substituted for *[Regulation 52(4) (a)] by the SEBI (Mutual Funds) (Amendment) Regulations, 2008 w.e.f. 16-4-2008. [*Substituted for Regulation 52(5) by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2006 w.e.f. 22-5-2006.] 2 substituted for Initial Expenses by the SEBI (Mutual Funds) (Second Amendment) Regulations, 2006 w.e.f. 22-5-2006. 3 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 1998 w.e.f. 12-1-1998. 4 Inserted ibid. 5 Inserted ibid.. 6 Inserted ibid. 7 Substituted by the SEBI (Mutual Funds) (Amendment) Regulations, 2008, w.e.f. 16-4-2008. Prior to its substitution, clause (b) read as under; (b) For a closed-ended scheme floated on a load basis, the initial issue expenses shall be amortised on a weekly basis over the period of the scheme: Provided that in case the schemes provide for partial redemption during the life of the scheme, the amortisation shall take into account the number of outstanding units and the aggregate amount during the relevant periods. 8 Omitted by the SEBI (Mutual Funds) (Amendment) Regulations, 2006 w.e.f. 22-5-2006. prior to its omission clause (c) read as under; (c) For open ended scheme floated on a load basis, the initial issue expenses may be amortised over a period not exceeding five years. Issue expenses incurred during the life of an open ended schemes shall not be amortised. 9 Substituted by the SEBI (Mutual Funds) (Amendment) Regulations, 2008, w.e.f. 16-4-2008. Prior to its substitution, clause (d) read as under; (d) In case of closed-ended *[***] floated on a load basis, the unamortised portion of the expenses shall be included in the calculation of the NAV. However, such portion shall not be included in the NAV for the purposes of determining the asset management company s investment management and advisory fees or for determining the limitation of expenses under regulation 51 of these regulations. [*Words and open ended schemes omitted by the SEBI (Mutual Funds) (Amendment) Regulations, 2006 w.e.f. 22-5-2006] 10 Omitted by the SEBI (Mutual Funds) (Amendment) Regulations, 2010, w.e.f. 29-7-2010. Prior to its omission, clause (e) read as under: (e) For schemes floated on a no-load basis, the asset management company may levy an additional management fee not exceeding 1% of the NAV. The asset management company may be entitled to levy a contingent deferred sales charge for redemption during the first four years after purchase, not exceeding 4% of the redemption proceeds in the first year, 3% in the second year, 2% in the third year and 1% in the fourth year. 11. 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 TENTH SCHEDULE Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 1 [[Regulation 49(3B)(b)]] 2 [Amortisation of Initial Issue Expenses for close ended schemes] Accounting treatment with regard to initial issue expenses :- (a) Asset management companies 3 [, trustee company or sponsor] may launch schemes either on a load or no-load basis , or on a mixed basis with two classes of units in the same scheme - one with load and the other without load, provided that the implications of such load on the NAV for the investors shall be clearly explained through a worked-out example in the offer document. Asset Management Company 4[, trustee company or sponsor] may also launch partial load schemes in which a part of the load would be borne by the asset management companies 5 [, trustee company or sponsor] and the balance by the scheme. However such schemes will not qualify to be no load schemes and would be treated in the same manner as load schemes. In the case of a no-load scheme, the initial issue expenditure shall be borne by the Asset Management Company 6 [, trustee company or sponsor]. (b) 7 [For a close-ended scheme floated on a load basis prior to commencement of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2008, the initial issue expenses shall be amortised on a weekly basis over the period of the scheme: Provided that in case such schemes provide for partial redemption during the life of the scheme, the amortisation shall take into account the number of outstanding units and the aggregate amount during the relevant periods.] (c) 8 [***] (d) 9 [In case of close-ended schemes floated on a load basis prior to commencement of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2008, the unamortised portion of the expenses shall be included in the calculation of the NAV. However, such portion shall not be included in the NAV for the purposes of determining the asset management company s investment management and advisory fees or for determining the limitation of expenses under regulation 52 of these regulations.] (e) 10 [***] (f) All subsequent distribution charges must in the case of load schemes shall be borne by the scheme and in the case of no-load schemes borne by the asset management company.