Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2007 - 11/LC/GN/2007/2518 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 28 th May, 2007 No. 11/LC/GN/2007/2518.- In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, namely :- 1. These Regulations may be called the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2007. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996,- (i) In the Second Schedule, in paragraph I, for item D, the following item shall be substituted, namely :- D. Filing fees for offer documents 0.03 per cent of the amount raised in the new fund offer, subject to a minimum of rupees one lakh and a maximum of rupees one crore. (ii) In the Seventh Schedule, for paragraph 8, the following paragraph shall be substituted, namely :- 8. Pending deployment of funds of a scheme in terms of investment objectives of the scheme, a mutual fund may invest them in short-term deposits of schedule commercial banks, subject to such Guidelines may be specified by the Board. [ADVT. III/4/69ZB/2007/Exty.] M. DAMODARAN, Chairman