- 36. (1) The asset management company shall issue to the applicant whose application has been accepted, a statement of accounts specifying the number of units allotted to the applicant as soon as possible but not later than [five working days] [Inserted by S.O. 1223 (E), dated 8.12.1999] from the date of closure of the initial subscription list and/or from the date of receipt of the request from the unit holders in any open ended scheme:

Provided that if an applicant so desires, the asset management company shall issue the unit certificates to the applicant within [five working days] [Substituted 'thirty days' Notification No. LAD-NRO/GN/2010-11/13/13945, dated 29.7.2010.] of the receipt of request for the certificate.

[Provided further that in case of mutual fund schemes eligible under Rajiv Gandhi Equity Savings Scheme, the period specified in this sub-regulation shall be fifteen days from the closure of the initial subscription list.] [Inserted by Notification No. LAD-NRO/GN/2013-14/12/6108, dated 19.6.2013.]

(2)

An applicant in a close ended scheme whose application has been accepted shall have the option either to receive the statement of accounts or to hold units in dematerialised form and the asset management company shall issue to such applicant, a statement of accounts specifying the number of units allotted to the applicant or issue units in dematerialised form as soon as possible but not later than [five working days] [Substituted 'thirty days' Notification No. LAD-NRO/GN/2010-11/13/13945, dated 29.7.2010.] from the date of closure of the initial subscription list.

[Provided that in case of mutual fund schemes eligible under Rajiv Gandhi Equity Savings Scheme, the period specified in this sub-regulation shall be fifteen days from the closure of the initial subscription list.] [Inserted by Notification No. LAD-NRO/GN/2013-14/12/6108, dated 19.6.2013.]

(3)

The asset management company shall issue units in dematerialised form to a unit holder in a close ended scheme listed on a recognised stock exchange within two working days of the receipt of request from the unit holder.]

["(4) The asset management company shall ensure that consolidated account statement for each calendar month is issued, on or before tenth day of succeeding month, detailing all the transactions and holding at the end of the month including transaction charges paid to the distributor, across all schemes of all mutual funds, to all the investors in whose folios transaction has taken place during that month:

Provided that the asset management company shall ensure that a consolidated account statement every half yearly (September/ March) is issued, on or before tenth day of succeeding month, detailing holding at the end of the six month, across all schemes of all mutual funds, to all such investors in whose folios no transaction has taken place during that period:

Provided further that the asset management company shall identify common investor across fund houses by their permanent account number for the purposes of sending consolidated account statement.

Explanation:- For the purpose of this regulation, the word 'transaction' shall include purchase, redemption, switch, dividend payout, dividend reinvestment, systematic investment plan, systematic withdrawal plan, systematic transfer plan and bonus transactions.] [Inserted by F. No. LAD-NRO/GN/2011-12/22/27668, dated 30.8.2011.]