Statement of Additional Information(SAI)–Changes in provisions

Company Name(s): 

Addendum No. - 11/2012-13 July 3, 2012

Registered Office: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Phone: 022- 66786666

Website: www.utimf.com

Statement of Additional Information (SAI) – Changes in provisions

In terms of AMFI Best Practice Guidelines Circular bearing no. 20/201011 dated February 9, 2011 and subsequent modifications communicated by them, the following changes are made in Para II titled “How to Apply?” of Statement of Additional Information (SAI) with immediate effect.

Existing Provisions Revised provisions
8. Requirement for admission into the scheme
(a) An adult, being a parent, step-parent or
other lawful guardian of a minor may hold units
and deal with them on behalf of the minor.
Such adult if so required shall furnish to the
AMC, in such manner as may be specified, proof
of the age of the minor and his capacity to hold
and deal with units on behalf of the minor. The
AMC shall be entitled to act on the statements
made by such adult in the application form
without any further proof.
8. Requirement for admission into the scheme
(a) An adult, being a parent, step-parent or
other lawful guardian of a minor may hold units
and deal with them on behalf of the minor.
Such adult if so required shall furnish to the UTI
AMC, document evidencing relationship of the
guardian / court appointed guardian / change
of guardian and date of birth. In the absence of
such documents, a self declaration in the form
as suggested by UTI AMC in this regard may be
submitted. Where the investments are received
from Government bodies / authorities /
Departments in favour of beneficiaries identified
by them, submission of such documents is
exempted due to completion of due diligence
of date of birth / relation with the guardian by
those entities at the time of identification of the
beneficiaries.
10. Nomination
(a) Nomination facility is available to
individuals applying on their own behalf i.e.
singly or jointly.
10. Nomination
(a) Nomination facility is available to
individuals applying on their own behalf i.e.
singly or jointly. Nomination is mandatory
Addendum ______
Registered Office: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Phone: 022- 66786666
Website: www.utimf.com
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(h) The facility of nomination is available to a
unitholder under SEBI (MFs) Regulations and
guidelines issued by SEBI from time to time.
for new folios / accounts opened by
individuals especially with sole holding. In
other words, new folios / accounts for
individuals in single holding shall not be
opened without nomination.
(h) The facility of nomination is available to a
unitholder under SEBI (MFs) Regulations and
guidelines issued by SEBI from time to time
which is mandatory. In an event, any
investor who does not wish to nominate, is
required to sign separately in the Scheme
Application Form confirming his/her
intention of not making nomination.
23. Maturity / Redemption of units
vii. Settlement of Claim
(a) In the event of the death of the
unitholder, the joint
holder(s)/nominee/legal representative of
the unitholder may, if he is otherwise
eligible for joining the scheme as
unitholder, be permitted to hold the units
and become a unitholder. In that event a
fresh SOA will be issued in his name in
respect of units so desired to be held by him
subject to his complying with the condition
of minimum holding and the required
procedure as may be prescribed by UTI
AMC from time to time.
23. Maturity / Redemption of units
vii. Settlement of Claim
(a) In the event of the death of the
unitholder, the joint
holder(s)/nominee/legal representative
of the unitholder, if he/she is otherwise
eligible for joining the scheme as
unitholder, shall be permitted to hold the
units and become a unitholder. In that
event a fresh SOA will be issued in
his/her name in respect of units so
desired to be held by him/her, subject to
his/her complying with the condition of
minimum holding and the required
procedure as may be prescribed by UTI
AMC from time to time.
Addendum ______
Registered Office: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Phone: 022- 66786666
Website: www.utimf.com
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In the event of the death of the karta of HUF,
the new Karta of HUF may, if he is otherwise
eligible for joining the scheme as unitholder,
shall be permitted to hold the units as Karta of
HUF subject to complying with the required
procedure as may be prescribed by UTI AMC
from time to time.
All other features, terms and conditions contained in the SAI will remain unchanged.
This addendum is an integral part of the SAI and shall be read in conjunction with the SAI.
For UTI Asset Management Company Limited
Sd/-
Authorised Signatory
In case any further information is required, the nearest UTI Financial Centre may please be contacted.