Valuation of Debt and Money Market Instruments
Summary
This circular partially modifies the effective date of a previous SEBI directive regarding the valuation of debt and money market instruments. The revised mandatory implementation date is set for August 1, 2010, replacing the earlier July 1, 2010 deadline. Mutual funds are permitted to voluntarily implement the valuation methodology before this new effective date.
Text
In partial modification of the above circular, it has been decided to make this circular applicable w.e.f. August 1, 2010.
However, those mutual funds which voluntarily propose to implement the valuation under the aforesaid circular before August 1, 2010 are permitted to do so.
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.
Source: SecMarx — Valuation of Debt and Money Market Instruments. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.