CIRCULAR, CIR/IMD/DF/16/2013, dated October 18, 2013
Gold Exchange Traded Fund Scheme (Gold ETFs) and
Gold Deposit Scheme (GDS) of Banks
All
Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees
of Mutual Funds
In
partial modification to SEBI circular no. CIR/IMD/DF/04/2013 dated February 15,
2013, it has been decided that, Para 2 (c) of the said circular shall be
modified as under –
"Gold certificates issued by
Banks in respect of investments made by Gold ETFs in GDS can be held by mutual
funds in dematerialized or physical form."
This
circular is issued in exercise of the powers conferred under Section 11 (1) of
the Securities and Exchange Board of India Act 1992, read with the provision of
Regulation 77 of SEBI (Mutual Funds) Regulation, 1996 to protect the interests
of investors in securities and to promote the development of, and to regulate
the securities market.
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