RegAlertRule · BSEC · 24 Dec 2023
Regarding Exemption from Clause 2 of the Fifth Schedule of the Securities and Exchange Commission (Mutual Fund) Rules, 2001
The Bangladesh Securities and Exchange Commission grants a temporary exemption from Clause 2 of the Fifth Schedule of the Securities and Exchange Commission (Mutual Fund) Rules, 2001, to non-scholarship mutual funds that are unable to comply with investment limits due to a decline in the value of invested securities. This exemption allows these funds to maintain compliance until the order regarding floor price is rescinded, but it explicitly does not apply to any new security purchases or investments made under the non-scholarship mutual fund. The directive was issued on November 27, 2023, under Section 23 of the Bangladesh Securities and Exchange Commission Act, 1993.
Registered No. D.A-1
Bangladesh Gazette
Extraordinary Number
Published by Authority
Sunday, December 24, 2023
[ Notifications and Notices issued by or on behalf of Private Persons and Corporations ] Bangladesh Securities and Exchange Commission Notification Date: November 27, 2023 No.-BSEC/CMRRCD/2009-193/68/PRD/149: Whereas, the Bangladesh Securities and Exchange Commission has taken the decision that it is necessary to issue certain guidelines regarding non-scholarship mutual funds for the development of the capital market and the interest of investors; Therefore, whereas, under the powers conferred by Section 23 of the Bangladesh Securities and Exchange Commission Act, 1993, certain non-scholarship mutual funds are unable to comply with Clause 2 of the Fifth Schedule of the "Securities and Exchange Commission (Mutual Fund) Rules, 2001" regarding the limit/restriction on investment in shares/securities of a single company due to a decline in the value of securities invested in non-scholarship mutual funds, a temporary exemption is hereby granted to such non-scholarship mutual funds/schemes to comply with the said clause, until the order regarding floor price (minimum price) is rescinded:
Provided that, in the case of purchase or investment in any new security under the non-scholarship mutual fund, this temporary exemption regarding the investment limit shall not apply. By Order of the Bangladesh Securities and Exchange Commission Professor Shibly Rubaiyat-ul-Islam Chairman. Printed by Md. Tajim-ur-Rahman, Deputy Director (Deputy Secretary), Bangladesh Government Printing Press, Tejgaon, Dhaka. Published by Md. Nazrul Islam, Deputy Director (Deputy Secretary), Bangladesh Form and Publication Office, Tejgaon, Dhaka. Ref No: 28535 Price: Tk. 4.00
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The links and the sentences they come from (2)
- Amends
- Securities and Exchange Commission (Mutual Fund) Rules, 2001Not in RegAlert
“unable to comply with Clause 2 of the Fifth Schedule of the "Securities and Exchange Commission (Mutual Fund) Rules, 2001"”
- Issued under
- Bangladesh Securities and Exchange Commission Act, 1993Not in RegAlert
“under the powers conferred by Section 23 of the Bangladesh Securities and Exchange Commission Act, 1993”
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