Comment on the following in light of SEBI (Collective Investment Schemes) Regulations, 1999: (iii) State the period for issue of Unit Certificates by a Collective Investment Management Company ?

As per the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2022, the requirement of issuing physical unit certificates has been dispensed with. Now, the Collective Investment Management Company is required to issue units to the applicant, whose application has been accepted, only in dematerialized form . These units must be issued within a period of five working days from the date of closure of the subscription list.