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Date: 26-Jul-2023 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by section 30 read with clause c of sub section 2 of section 11 of the Securities and Exchange Board of India Act

Issued by Securities and Exchange Board of India · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • This notification issued by the Securities and Exchange Board of India (SEBI) specifies the effective dates for various sub-regulations and clauses within regulation 3 of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023.
  • Specifically, sub-regulation (XII) of regulation 3 will be effective from the date of publication of this notification in the Official Gazette.
  • The remaining sub-regulations and clauses, as listed in the notification, will come into force on January 1, 2024.

Key Changes

  • Sub-regulation (XII) of regulation 3 of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023 is effective from July 26, 2023 (date of publication of the notification).
  • The following provisions of regulation 3 of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023 will be effective from January 1, 2024:
  • Clauses (ii) and (iii) of sub-regulation (I)
  • Sub-regulation (V)
  • Sub-regulation (VI)
  • Sub-regulation (VIII)
  • Sub-regulation (IX)
  • Sub-regulation (X)
  • Sub-regulation (XI)
  • Sub-regulation (XV)
  • Sub-regulation (XVI)
  • Sub-regulation (XVII)
  • Sub-regulation (XVIII)
  • Sub-regulation (XIX)
  • Sub-regulation (XX)
  • Sub-regulation (XXI)
  • Sub-regulation (XXII)
  • Sub-regulation (XXIII)
  • Sub-regulation (XXV)
  • Sub-regulation (XXVI)

Impact Analysis

Mutual Funds

  • Legal and compliance teams within mutual funds need to review the specific requirements of each provision and update internal policies and procedures accordingly.

Investors

  • Investor awareness programs may be required to educate investors about the implications of these changes.

SEBI

  • SEBI will need to conduct inspections and audits to ensure that mutual funds are adhering to the new requirements.

Key Entities Referenced

Securities and Exchange Board of India (SEBI): The regulatory body issuing the notification and responsible for regulating the securities market in India. Securities and Exchange Board of India Act, 1992: The Act that empowers SEBI to regulate the securities market. Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023: The specific regulations being amended by this notification.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-एम.एxचxx.G-अID.H-2x6xx0 72023-247623 CG-MHxx-xEG-I2D6E0x7x2x 023-247623 असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 524] नई कदल्ली, ब धिार, ि लाई 26, 2023/श्रािण 4, 1945 No. 524] NEW DELHI, WEDNESDAY, JULY 26, 2023/SHRAVANA 4, 1945 भारतीय प्रजतभजू त और जिजनमय बोडड अजधसचू ना म ंबई, 26 ि लाई, 2023 स.ं सेबी/एलएडी-एनआरओ/िीएन/2023/141.—बोडड, भारतीय प्रजतभूजत और जिजनमय बोडड अजधजनयम, 1992 (1992 का 15) की धारा 11 की उप-धारा (2) के खंड (ग) के साथ पठित धारा 30 द्वारा प्रदान की गई िजियों का प्रयोग करते हुए, एतद्द्वारा यह जनधाडठरत करता ह ैकक:- 1. भारतीय प्रजतभूजत और जिजनमय बोडड (पारस्ट्पठरक जनजध) (संिोधन) जिजनयम, 2023 के जिजनयम 3 का उप-जिजनयम (XII) रािपत्र में इस अजधसूचना के प्रकाजित होने की तारीख से लागू होगा । 2. भारतीय प्रजतभूजत और जिजनमय बोडड (पारस्ट्पठरक जनजध) (संिोधन) जिजनयम, 2023 के जिजनयम 3 के जनम्नजलजखत प्रािधान 1 िनिरी, 2024 से लागू होंगे, अथाडत्:- i. उप-जिजनयम (I) के खंड (ii) और (iii); ii. उप-जिजनयम (V); iii. उप-जिजनयम (VI); iv. उप-जिजनयम (VIII); v. उप-जिजनयम (IX); vi. उप-जिजनयम (X); vii. उप-जिजनयम (XI); viii. उप-जिजनयम (XV); ix. उप-जिजनयम (XVI); 4825 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] x. उप-जिजनयम (XVII); xi. उप-जिजनयम (XVIII); xii. उप-जिजनयम (XIX); xiii. उप-जिजनयम (XX); xiv. उप-जिजनयम (XXI); xv. उप-जिजनयम (XXII); xvi. उप-जिजनयम (XXIII); xvii. उप-जिजनयम (XXV); और xviii. उप-जिजनयम (XXVI) । बबीता राय डू, कायडपालक जनदिे क [जिज्ञापन-III/4/असा./306/2023-24] SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 26th July 2023 No. SEBI/LAD-NRO/GN/2023/141.—In exercise of the powers conferred by section 30 read with clause (c) of sub-section (2) of section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby appoints: - 1. that sub-regulation (XII) of regulation 3 of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023 shall come into force on the date of publication of this notification in the Official Gazette. 2. the 1st day of January, 2024 as the date on which the following provisions of regulation 3 of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023, shall come into force, namely:- i. clauses (ii) and (iii) of sub-regulation (I); ii. sub-regulation (V); iii. sub-regulation (VI); iv. sub-regulation (VIII); v. sub-regulation (IX); vi. sub-regulation (X); vii. sub-regulation (X1); viii. sub-regulation (XV); ix. sub-regulation (XVI); x. sub-regulation (XVII); xi. sub-regulation (XVIII); xii. sub-regulation (XIX); xiii. sub-regulation (XX); xiv. sub-regulation (XXI); xv. sub-regulation (XXII); xvi. sub-regulation (XXIII); xvii. sub-regulation (XXV); and xviii. sub-regulation (XXVI). BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./306/2023-24] Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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