Regulation 15 - Contents of trust deed - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

Contents of trust deed 15. (1) The trust deed shall contain such clauses as are mentioned in the Third Schedule and such other clauses which are necessary for safeguarding the interests of the unit holders. (2) No trust deed shall contain a clause which has the effect of- (i) limiting or extinguishing the obligations and liabilities of the trust in relation to any mutual fund or the unit holders; or (ii) indemnifying the trustees or the asset management company for loss or damage caused to the unit holders by their acts of negligence or acts of commission or omission.