Duties of trustees require securing assets and deposit insurance to cover deposits while supervising compliance and enforcement. Trustees must ensure charged company assets together with deposit insurance adequately cover repayment of secured deposits and accrued interest; verify that solicitation materials conform to the deposit scheme, trust deed and statutory rules; prevent and remedy breaches of trust deed covenants; supervise creation and enforcement of security and insurance; call depositor meetings as required; and take necessary actions to protect depositors and resolve grievances.
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Provisions expressly mentioned in the judgment/order text.
Duties of trustees require securing assets and deposit insurance to cover deposits while supervising compliance and enforcement.
Trustees must ensure charged company assets together with deposit insurance adequately cover repayment of secured deposits and accrued interest; verify that solicitation materials conform to the deposit scheme, trust deed and statutory rules; prevent and remedy breaches of trust deed covenants; supervise creation and enforcement of security and insurance; call depositor meetings as required; and take necessary actions to protect depositors and resolve grievances.
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