Authority
Identify the enabling section, issuing authority, legal form and power used.
Indian Laws › Depositories Act, 1996 › Subordinate instruments
SEBI (Mutual Funds) Regulations, 1996
SEBI (Mutual Funds) Regulations, 1996 under Depositories Act, 1996: scope, enabling-law bridge, implementation, evidence, examples and practical Q&A.
Finin2min Summary — Instrument in 2 Minutes
Mutual fund constitution, schemes, investment restrictions, valuation, disclosure and governance.
Current source and legal-status gate
Status: Current consolidated regulation required
This page is an implementation and source-control layer. Verify the signed Gazette/current consolidated instrument, amendments, effective date and supersession before reliance.
This page is an implementation and source-control layer. Verify the signed Gazette/current consolidated instrument, amendments, effective date and supersession before reliance.
Enabling-law and applicability map
Applicability
Identify entity class, transaction, threshold, territory and commencement/effective date.
Operative requirements
Map every rule/regulation/paragraph to owner, deadline, form, approval, computation and evidence.
Supersession
Record amendments, substitutions, rescissions, circular consolidation and saved transitional provisions.
Practical implementation example
A compliance team relies on a historic PDF or web summary. Before execution, the owner retrieves the authority's current version, compares amendment dates, confirms applicability, updates the checklist and preserves both the source and review evidence.
Evidence and retention
- Signed/current official instrument and enabling provision.
- Amendment, commencement and supersession register.
- Applicability memo, threshold calculation and entity classification.
- Current form/portal version, filing receipt and communication.
- Maker-checker approval, exceptions and remediation.
Practical Q&A
Does an old circular remain usable because it is still online?
No. Check rescission, consolidation, master circular/direction history and whether a later instrument changes the position.
Can an enabling Act page replace the instrument text?
No. The Act confers power; the current subordinate instrument supplies the operative procedure, form, threshold or condition.
What is the minimum review evidence?
Official source, effective date, amendment/supersession note, applicability decision, implementation checklist and reviewer sign-off.