Open End Scheme definition

Open End Scheme means a collective Investment Scheme which offers units for sale based on net asset value on continuous basis without specifying any duration for redemption and which entitles the holder of such units on demand to receive his proportionate share of the net assets of the scheme less any applicable charges on redemption or revocation.

Open End Scheme means a scheme for issuing Class-A and Class-B Units to the Certificate Holders of PGF after its conversion, in lieu of the Certificates of PGF as a Closed End Fund, held by them, at the swap ratio mentioned in this Plan and subsequently offering and redeeming Units continuously as specified in the Restated Trust Deed and Offering Documents in accordance with the provisions of the NBFC Rules and the NBFC Regulations.

Open End Scheme means a scheme constituted by way of a trust deed that continuously offers for sale its units as specified in the Constitutive Document that entitle the holder of such units on demand to receive his proportionate share of the net assets of the scheme less any applicable charges;

Examples of Open End Scheme in a sentence

• The Restated Trust Deed shall contain all requisite terms and conditions applicable to an Open End Scheme with two Classes of Units i.e. Class-A Units and Class-B Units, as defined above.

• The object of this Plan is to convert PGF from a Closed End Fund to an Open End Scheme, as directed by the Commission vide the Sanction Order.

• The Board of HBL AML in its meeting held for this purpose on February 24, 2017 decided to proceed with the conversion of PIF into an Open End Scheme with the approval of the Certificate Holders of PIF under the provisions of the NBFC Regulations.

• One undivided share in the Open End Scheme from Class-B Segment, on pari passu basis, to be issued to the Initial Unit Holders based on swap ratio as mentioned in Clause 1.5 above which shall be redeemable from the Effective Date with Back End Load as mentioned in Clause 1.5 (viii) of this Offering Document.

• An Offering Document of PIF will also be prepared so as to meet with the requirements of an Open End Scheme under the NBFC Regulations.

• The Trust Property of the Open End Scheme comprises the entire PGF Undertaking as defined hereafter consist of Class-A Segment, Class-B Segment and Common Portion of PGF Undertaking relatable to both Class-A Segment and Class-B Segment.

• One undivided share in the Open End Scheme to be issued to the investors post conversion and may be subject to Front End Load and Back End Load as per the terms and conditions contained in the Restated Trust Deed and the Offering Document.

• The object of this Plan is to convert PIF from a Closed End Fund to an Open End Scheme, as directed by the Commission vide the Sanction Order.

• Since PIF has Frozen Portfolio, it was not converted into an Open End Scheme.

• As per regulation 54 (3a) The minimum size of an Open End Scheme shall be one hundred million rupees at all times during the life of the scheme Explanation: - The minimum fund size means the Net Assets of the Open End Scheme.

More Definitions of Open End Scheme

Open End Scheme means a collective Investment Scheme which offers units for sale based on net asset value on continuous basis without specifying

Open End Scheme means an equity scheme to be constituted as a trust by the Management Company in consultation with the Directors of GASF under the name of "Golden Arrow Stock Fund" initially for taking over GASF Undertaking and issuing Units to the Shareholders of GASF in lieu of the shares held by them, at the swap ratio mentioned in this Scheme of Arrangement and subsequently offering and redeeming Units continuously as specified in the Constitutive Documents in accordance with the provisions of the NBFC Rules and the NBFC Regulations.