tailieunhanh - Mutual Funds, Asset Management Companies (AMCs), Trustee Companies and Boards of Trustees of Mutual Funds.

Brazil’s equity market has grown rapidly in terms of both market capitalization and transaction volumes. Total equity market capitalization was about 55 percent of GDP in 2011 with a diversified investor base including individuals, institutional investors, financial institutions, and foreign investors. This growth has been fueled by a combination of strong market performance and a steady increase in the total quantity of shares. The introduction of the Novo Mercado (“New Market”), which encouraged corporations to adopt higher standards for corporate governance, transparency, and minority shareholder protection, as pre-requisites for listing, has also contributed to further market development. . | jrfcHjJcT 3ĨĨÀ fcĩĩWĩ ẽĩĩí u Securities and Exchange Board of India CIRCULAR CIR MRD DP 32 2012 December 06 2012 To Stock Exchanges Depositories Mutual Funds Asset Management Companies AMCs Trustee Companies and Boards of Trustees of Mutual Funds. Sir Ma am Sub Rajiv Gandhi Equity Savings Scheme 2012 1. As announced in the Union Budget 2012-13 the Finance Act 2012 has introduced a new section 80CCG on Deduction in respect of investment made under an equity savings scheme to give tax benefits to new investors who invest up to Rs. 50 000 and whose gross total annual income is less than or equal to Rs. 10 lakhs. The objective of the scheme is to encourage flow of savings in the financial instruments and improve the depth of the domestic capital market. 2. Vide notification 51 2012 dated November 23 2012 copy enclosed the scheme has been notified by the Department of Revenue Ministry of Finance MoF . The notification is available on the website of Income Tax Department under section Notifications . 3. Stock exchanges Depositories Mutual Funds Asset Management Companies AMCs Trustee Companies and Boards of Trustees of Mutual Funds are directed to take note of the notification and take necessary steps to implement the scheme. AMCs Trustees shall ensure that RGESS eligible Exchange Traded Funds ETFs and Mutual Funds MFs schemes are in compliance with the aforementioned notification. 4. With regard to implementation of the MoF notification the following is clarified i For RGESS eligible close-ended Mutual Funds schemes advice given by AMCs to the depository for extinguishment of units of close-ended schemes upon maturity of the scheme shall be considered as settled through depository mechanism and therefore RGESS compliant. Page 1 of 16 wcTTEf jrffnjffi àfa iciPi-H ẽỉrế Securities and Exchange Board of India ii AMCs shall disclose that the concerned RGESS eligible Exchange Traded Funds and Mutual Fund schemes is in compliance with the provisions of RGESS guidelines .