Securities and Exchange Commission (Mutual Fund) Rules, 2001 (Amendment), Gazette — BSEC — BD

Registered No. D.A-1

Bangladesh
Gazette

Government of the People's Republic of Bangladesh

Extraordinary Issue
Published by Authority

Sunday, August 18, 2013

[Notices and notifications issued for consideration by private individuals and corporations]

Bangladesh Securities and Exchange Commission

Notification

Date, July 24, 2013

No. SECMARRCDI/2006-157/148/Admin/49—Under the powers conferred by Section 24, Sub-section (2) of the Bangladesh Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993), the Bangladesh Securities and Exchange Commission, in consultation with the Government, has made the following amendments to the Securities and Exchange Commission (Mutual Fund) Rules, 2001, namely:

In the aforementioned Rules, —

Rule 66 shall be replaced by the following, namely:—

“66. Distribution of dividends and its limit.—Every mutual fund shall, after the completion of its annual accounts, declare cash dividends or reinvestment or both options to the unit holders of each scheme in accordance with these Rules and subject to the opinion of the Trustee, the amount of which shall not be less than seventy percent (70%) of the annual profit of such scheme. It is noted that all rules/provisions determined by the Commission shall apply to all term mutual funds:

(7051)
Price: Tk 4.00

```markdown
7052

Bangladesh Gazette, Extraordinary, August 18, 2013

Provided that, in the case of those growth investment schemes whose nature and prospects were fully informed to investors from the beginning, the rate of such dividend distribution shall not be less than fifty percent (50%) of the annual profit;

Further provided that, such dividend decision shall be distributed to unit holders within forty-five (45) days, and a report regarding the same shall be submitted to the Commission, Trustee, and Custodian within the next seven (7) days.”

By order of the Bangladesh Securities and Exchange Commission

Professor Dr. M. Khairul Hossain
Chairman.

Printed by Md. Nazrul Islam (Additional Secretary), Deputy Director, Bangladesh Government Printing Office, Tejgaon, Dhaka.
Published by Abdur Rashid (Additional Secretary), Deputy Director, Bangladesh Forms and Publications Office, Tejgaon, Dhaka. web site: www.bgpress.gov.bd.

Lineage: No known changes

RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.

amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it

The links and the sentences they come from (2)

Amends

Securities and Exchange Commission (Mutual Fund) Rules, 2001Not in RegAlert
“has made the following amendments to the Securities and Exchange Commission (Mutual Fund) Rules, 2001, namely:”

Issued under

Act No. 15 of 1993Not in RegAlert
“Under the powers conferred by Section 24, Sub-section (2) of the Bangladesh Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993)”