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SEBI Rectifies Drafting Error

SEBI has clarified that the recently issued guidelines regarding the procedures for dividend distribution by the mutual funds will be applicable to all mutual fund schemes

SEBI has clarified that the recently issued guidelines regarding the procedures for dividend distribution by the mutual funds will be applicable to all mutual fund schemes irrespective of their dates of launch, and not restricted to the funds launched subsequent to the date of the previous circular, as it had mentioned.

The error, which was pointed out by Value Research (read the earlier story here), had rendered the amendments ineffective. But with the clarification, that stands rectified.