Memorandum of Association should authorise the company to distribute mutual funds in order to qualify to get AMFI registration number (ARN).
If a private limited company applies to AMFI for registration as MF distributor, what does AMFI look for in the main objects clause of the Memorandum of Association of the company? Kindly advice.
The Memorandum of Association or board resolution should authorise the company to distribute mutual funds. Alternatively, a letter from the Chairman/ Managing Director/ CEO/Authorised persons confirming that the organisation has been authorised to undertake distribution of mutual funds can also be submitted while applying for ARN.