(3)Every application for approval under sub-rule (2) shall be accompanied by the following documents, namely :-(a)audited balance sheets and profit and loss account for three previous years immediately preceding the previous year in which the application is made :Provided that where a Mutual Fund has been in existence for a period of less than three years, in that case that company may furnish balance sheet and profit and loss account for the period of its existence;(b)a copy of the certificate of registration issued by the Securities and Exchange Board of India.
