Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 Chapter III CONSTITUTION AND MANAGEMENT OF MUTUAL FUND AND OPERATION OF TRUSTEES, ETC.
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Trust deed obligations: must include prescribed clauses and cannot limit trustee or AMC liability for negligence. Regulation 15 mandates that a mutual fund trust deed include Third Schedule clauses and other provisions safeguarding unit holders, and forbids any clause ... Summary
Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
Trust deed obligations: must include prescribed clauses and cannot limit trustee or AMC liability for negligence.
Regulation 15 mandates that a mutual fund trust deed include Third Schedule clauses and other provisions safeguarding unit holders, and forbids any clause that limits or extinguishes the trust's obligations to the fund or unit holders or that indemnifies trustees or the asset management company against loss or damage caused by their negligence or acts of commission or omission.
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