Act/Law wise: Judgment of Supreme Court of Bangladesh

ALL A B C D E F G H I J K L M N O P Q R S T U V W X Y Z



Securities and Exchange Commission (Mutual Fund) Rules, 2001
Section/Order/Article/Rule/Regulation Head Note
Rule 50(Kha)

Rule 50 'Kha' provides that at the time of a creation of fund for fixed period under a scheme, the duration and the amount of the scheme is to be mentioned unless it is an Open-end scheme. At least one year before the end of the scheme period, three-fourths unit-holders by votes may extend the scheme for another such period. .....Chairman, SEC =VS= Md Ali Zaman, (Civil), 2017 (2)– [3 LM (AD) 184] ....View Full Judgment

Rule 50(Kha)

In exercise of its power under section 20A (before amendment) the Securities and Exchange Commission ordered that the tenure of Closed-end Mutual Funds shall not be more than 10 years and that the Closed-end Mutual Funds whose tenure of 10 years has already expired shall be deemed to have been extinguished. .....Chairman, SEC =VS= Md Ali Zaman, (Civil), 2017 (2)– [3 LM (AD) 184] ....View Full Judgment

Rules 51-54

Over and above,(1) BRAC Bank Limited, (2) BRAC Stock Brokerage Limited, (3) United Commercial Bank Limited, (4) VIPB Asset Management Company and (5)IDLC Investment Limited have been holding more than 50% of the units and they are not willing to continue with the mutual fund. They are to take back their investment. When the majority of the unit-holders are not willing to continue either by extension of the closed-end mutual fund or by conversion into open-end mutual fund, we are of the view that the instant Close-end Mutual Fund should not continue any further. .....Chairman, SEC =VS= Md Ali Zaman, (Civil), 2017 (2)– [3 LM (AD) 184] ....View Full Judgment