- The Board may cancel the certificate of registration granted to a mutual fund, if such mutual fund.

(a) is guilty of fraud, or has been convicted of an economic offence;

(b) has been guilty of repeated defaults of the nature specified in regulation 68;

(c) the mutual fund, asset management company, trustee of that mutual fund indulges in price manipulation or price rigging or cornering activities affecting the securities market and the investors interest;

(d) the financial position of the mutual fund deteriorates to such an extent that the Board is of the opinion that its continuance is not in the interest of unitholders and other mutual funds.