TMI BlogRights and obligations of the trusteeX X X X Extracts X X X X X X X X Extracts X X X X ..... nd submitted their bio-data which shall contain the educational qualifications and past experience in the areas relevant for fulfilling the objectives of the 3 [collective investment scheme]s; (c) appointed auditors to audit the accounts of the 4 [collective investment scheme] from the list of auditors approved by the Board; (d) appointed a compliance officer to comply with the provisions of the Act and these regulations and to redress investor grievances; (e) appointed registrars to an issue and share transfer agent; (f) prepared a compliance manual and designed internal control mechanisms including internal audit systems; (g) taken adequate insurance for the assets of the 5 [collective investment scheme]; (h) not give ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e provisions of trust deed. (5) The trustee shall be responsible for the calculation of any income due to be paid to the 14 [collective investment scheme] and also for any income received in the 15 [collective investment scheme] to the unit holders. (6) The trustee shall convene a meeting of the unit holders- (a) whenever required to do so by the Board in the interest of the unit holders; or (b) whenever required to do so on the requisition made by unitholders holding at least one-tenth of nominal value of the unit capital of any 16 [collective investment scheme]; or (c) when any change in the fundamental attributes of any 17 [collective investment scheme] Provided that no such change shall be carried out unless the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no objection certificate. (ii) The trustee shall abide by the Code of Conduct as specified in the Third Schedule. (9) The trustee shall furnish to the Board on a quarterly basis (i.e., by end of March, June, September and December), every year- (a) a report on the activities of the 24 [collective investment scheme]; (b) a certificate stating that the trustee has satisfied himself that affairs of the Collective Investment Management Company and of the various 25 [collective investment scheme]s are conducted in accordance with these regulations and investment objective of each 26 [collective investment scheme]. (10) The trustee shall cause:- (a) the profit and loss accounts and balance sheet of the 27 [collective investm ..... X X X X Extracts X X X X X X X X Extracts X X X X
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