India:
Limits On Restriction
26 August 2016
S&A Law Offices
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Restriction may be imposed only for a
specified period of time not exceeding 10 working days in any 90
day period
Under the new rules, no redemption
requests of up to Rs.2 lakh will be subject to restrictions. For
redemption requests above Rs.2 lakh, AMCs will redeem the first
Rs.2 lakh without restriction while the remaining money can be
subject to any restriction imposed by the AMC.
The new rules require information of all restrictions imposed to
be given to the SEBI. The norms would be effective from 1st july,
2016 on all existing schemes. It is an investment friendly decision
and addresses the liquidity risk involved in mutual fund investment
for retail investors.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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