Regulation 37 - Regulation - COLLECTIVE INVESTMENT SCHEMES OF COLLECTIVE INVESTMENT MANAGEMENT COMPANY - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999 - Regulation 37 - Winding up of 1[collective investment scheme] 37. (1) A 2[collective investment scheme] shall be wound up on the expiry of duration specified in the 3[collective investment scheme] or on the accomplishment of the purpose of the 4[collective investment scheme]. (2) Notwithstanding anything contained in sub-regulation (1), a 5[collective investment scheme] may also be wound up- (a) on the happening of any event which, in the opinion of the trustee, requires the 6[collective investment scheme] to be wound up and the prior approval of the Board is obtained; or (b) if unit holders of a 7[collective investment scheme] holding at least three-fourth of the nominal value of the unit capital of the 8[collective investment scheme] pass a resolution that the 9[collective investment scheme

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