(1)

The price at which the units may be subscribed or sold and the price at which such units may at any time be repurchased by the mutual fund shall be made available to the investors [in the manner specified by the Board] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/14, dated 29.5.2018.].

(2)

[ The mutual fund shall provide the methodology of calculating the sale and repurchase price of units in the manner specified by the Board.] [Substituted by Notification No. SEBI/LAD-NRO/GN/2018/14, dated 29.5.2018.]

(3)

While determining the prices of the units, the mutual fund shall ensure that the repurchase price is not lower than 93 per cent of the Net Asset Value and the sale price is not higher than 107 per cent of the Net Asset Value:

[Provided that the repurchase price of the units of close ended scheme launched prior to the commencement of the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2009 shall not be lower than ninety five per cent of the Net Asset Value:] [Substituted Notification No. LAD-NRO/GN/2009-10/01/159601, dated 8.4.2009.]

Provided further that the difference between the repurchase price and the sale price of the unit shall not exceed 7 per cent calculated on the sale price

(4)

The price of units shall be determined with reference to the last determined Net Asset Value as mentioned in sub-regulation (3) unless,-

(a) the scheme announces the Net Asset Value on a daily basis; and

(b) [ the sale price is determined with or without a fixed premium added to the future net asset value which is declared in advance.] [Substituted by S.O. 32(E), dated 12.1.1998]