Upload of Draft Scheme Information Documents
Summary
This circular modifies the public comment period for Draft Scheme Information Documents (SIDs) from 21 working days to at least 8 working days. It deletes specific sub-clauses of the Master Circular on Mutual Funds and updates the relevant provision regarding SID availability on SEBI's website. The changes are effective immediately under powers conferred by Section 11(1) of the SEBI Act.
Text
henceforth, SID on which observations are issued by SEBI shall be uploaded on the SEBI website for at least 8 working days for receiving public comments on the adequacy of disclosures made in the document.
Draft SID on which SEBI observation letter has been issued shall be made available on SEBI’s website – http:// www.sebi.gov.in for at least 8 working days for receiving public comments on the adequacy of disclosures made in the document after which AMC may launch the scheme and file final offer documents (SID and KIM) in line with the provisions of clause 1.1.3.3 of SEBI Master Circular on Mutual Funds dated June 27, 2024.
Clause 1.1.3.1. (c) and 1.1.3.1.(d) of the Master Circular on Mutual Funds dated June 27, 2024 stand deleted.
The provisions of this circular shall come into force with immediate effect.
Source: SecMarx — Upload of Draft Scheme Information Documents. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.