Registration conditions for collective investment management companies require director and control approvals, depository dematerialization, KYC, and no cash subscriptions. Regulation 11 conditions for registration require board and trustee approvals for director appointments, prompt notice to the Board of material changes, prior approval for any change of controlling interest by the Board, trustee and specified unit holders, and compliance with the Act and regulations. Operational and investor safeguards mandate grievance redress within twenty-one calendar days, an agreement with a depository for dematerialisation of units, prohibition of cash subscriptions (subscriptions to be through banking channels), and adherence to Board-specified KYC norms.