TMI BlogCONTENTS OF AGREEMENT BETWEEN THE PORTFOLIO MANAGER AND HIS CLIENTSX X X X Extracts X X X X X X X X Extracts X X X X ..... a trustee and agent of the clients' account. 3. Functions, obligations, duties and responsibilities (as discretionary and non discretionary to be given separately) with specific provisions regarding instructions for non discretionary portfolio manager, inter alia - (i) terms incompliance with the Act, SEBI (Portfolio Managers) Regulations,1993, rules, regulations, guidelines made under the Act and any other laws/rules/regulations / guidelines etc.; (ii) providing reports to clients; (iii) maintenance of client wise transaction and related books of accounts; (iv) provisions regarding audit of accounts as required under the SEBI (Portfolio Managers) Regulations, 1993; (v) settlement of accounts and procedure therefore in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cash or securities from the portfolio account or bring in additional cash to be managed as per the terms and conditions that apply. The portfolio manager shall not change any terms of the agreement without prior consent of the client. 10. Access to information- (Subject to the provisions of SEBI (Portfolio Managers)Regulations,1993) - Provisions enabling client to get the books of accounts of the portfolio manager relating to his transactions audited by a chartered accountant appointed by him and permitting the client an access to relevant and material documents of portfolio manager, provisions listing the documents for inspection along with timings for such inspection, furnishing of reports to the client subject to furnishing at least ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the extent of his investment. 15. Death or Disability- providing for continuation/termination of the agreement in event of client's death/disability, succession, nomination, representation etc. to be incorporated. 16. Assignment- Conditions for assignment of the agreement by client. 17. Governing Law- The law/jurisdiction of country/state which governs the agreement to be stated. 18. Settlement of grievances/disputes and provision for arbitration-(Provisions to cover protection of act done in good faith, Risks and losses, redressal of grievances, dispute resolution mechanism, reference for arbitration and the situations under which such rights may arise, may be made). ***** 1 ibid. 2 Omitted by SEBI (Portfoli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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