Termination of trusteeship

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..... ations, 1993; or (b) if the trustee is in the course of being wound up; or (c) if unit holders holding at least three-fourths of the nominal value of the unit capital of the 1 [collective investment scheme] pass a resolution for removing the trustee and the Board approves such resolution; or (d) if in the interest of the unit holders, the Board, for reasons to be recorded in writing deci .....

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..... ained in regulation 18 appoint any person as a trustee if the Collective Investment Management Company fails to appoint a trustee under sub regulations (2) and (3). (5) The trustee appointed under sub-regulations (3) and (4) shall stand substituted as a trustee in all the documents to which the trustee so removed was a party. (6) The person appointed by the Board shall apply to the Court for .....

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