SEBI has amended SEBI (Mutual Funds) Regulations, 1996. Amendment has been made to Regulation 2 whereby second proviso has been inserted in the definition of ‘Mutual fund’ providing that mutual fund schemes investing in exchange traded commodity derivative my hold the underlying goods in case of physical settlement of such contracts. Amendment has also been made to Regulation no. 7, 26, 44, 53 and seventh schedule of the SEBI (Mutual Funds) Regulations, 1996.
from taxmann.com News http://bit.ly/2VvYOZV
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