(1)

The mutual fund, the asset management company, the trustee, custodian, sponsor of the mutual fund shall make such disclosures or submit such documents as they may be called upon to do so by the Board.

(2)

Without prejudice to the generality of sub-regulation (1), the mutual fund [* * *] [Omitted by S.O. 32(E), dated 12.1.1998] shall furnish the following periodic reports to the Board, namely :-

(a) copies of the duly audited annual statements of accounts including the balance sheet and the profit and loss account for the fund and in respect of each scheme, once a year;

(b) a copy of six monthly unaudited accounts ;

(c) a quarterly statement of movements in the net assets for each of the schemes of the fund;

(d) a quarterly portfolio statement, including changes from the previous periods, for each scheme.

(3)

No sale of units of any scheme of a mutual fund shall be made by the trustees or an asset management company unless accompanied by documents which contain information which is adequate for the investors to take an informed decision.