are merged together; (8) “mutual fund amalgamation” means amalgamation of two mutual funds or more into one mutual fund in which the mutual fund which accepts the transfer of assets purchases or accepts

shall take effect as of the date when an approval is granted, but the 2-year period shall begin as from the 1st day of January of the following year. In this regard, in case of granting an approval for

effect as of the date when an approval is granted, but the 2-year period shall begin as from the 1st day of January of the following year. In this regard, in case of granting an approval for the person who