BUSINESS ACTIVITIES AND OBLIGATIONS OF COLLECTIVE INVESTMENT MANAGEMENT COMPANY - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999
BUSINESS ACTIVITIES AND OBLIGATIONS OF COLLECTIVE INVESTMENT MANAGEMENT COMPANY - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999
Termination of trusteeship enables appointment of replacement trustee and Board-directed action to secure unit holder interests. Termination arises on specified grounds including cessation under debenture trustee rules, winding up, unit-holder resolution with Board approval, Board ... Summary
Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999
Termination of trusteeship enables appointment of replacement trustee and Board-directed action to secure unit holder interests.
Termination arises on specified grounds including cessation under debenture trustee rules, winding up, unit-holder resolution with Board approval, Board removal for regulatory violations with hearing, or trustee notice; the management company must appoint an eligible replacement within three months, failing which the Board may appoint a trustee who is substituted into all relevant documents, requires execution of the prescribed trust deed, assumes regulatory rights and duties, and must apply to Court for winding up while the removed trustee remains liable for prior acts.
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