implement a system that separates proceeds from the PVD into two parts as contributions and non-contributions. (3) Maintain information of each unitholder about age, duration of the membership or of being a
Preparation of a 6 month-period report and an annual report is not required for the mutual fund which has the term period less than one year, invest in instruments with maturity period close to the term of the
less than one year, invest in instruments with maturity period close to the term of the fund, and the portfolio of which has no material changes throughout the scheme. Authority of the SEC Fund managers
terms that would require bondholders who have held their bonds until the maturity to have their investments repaid less than 80 percent of the amount that the issuer received from the investors. Face
maturity date (puttable option). Interest rates shall be fixed and clearly specified. There shall be no clauses of paying interest rates varied according to other reference factors (as specified in clause 13