Regulation 79 - Definitions - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

1 [CHAPTER XI MUTUAL FUNDS LITE Definitions 79. (1) For the purposes of this Chapter, unless the context otherwise requires- (a) trustee means a debenture trustee registered with the Board under the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993: Provided that in case an existing sponsor transfers its eligible passive schemes from its existing mutual fund to a mutual fund lite in accordance with regulation 82, the MF Lite asset management company may appoint the existing trustee of the mutual fund as the trustee of the mutual fund Lite. (b) Mutual Fund Lite or MF Lite means a mutual fund that has obtained registration under this Chapter and is having only such index funds, exchange traded funds, fund of funds or other mutual fund schemes as may be specified by the Board from time to time. (c) Mutual Fund Lite asset management company or MF Lite asset management company or MF Lite AMC means an asset management company of a Mutual Fund Lite that has been granted approval under this Chapter. (d) Mutual Fund Lite scheme or MF Lite Scheme means any scheme launched by a mutual fund lite or any other eligible passive scheme as may be specified by the Board from time to time. ] ************** NOTES:- 1. Inserted vide Notification No.SEBI/LAD-NRO/GN/2024/221 dated 16-12-2024 w.e.f. ninetieth day from the date of their publication in the Official Gazette