Review of Provisions relating to Close Ended Schemes

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..... further strengthen the framework for close ended schemes, it has been decided that for all close ended schemes (except Equity Linked Savings Schemes) to be launched on or after December 12, 2008: 1. The units shall be mandatorily listed. The provisions in the SEBI (Mutual Funds) Regulations, 1996 regarding repurchase and re-issue and exemption from listing of units of close ended scheme would be .....

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..... re the launch. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, Ruchi Chojer
Cir .....

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