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        SEBI

        Regulation 17 - Approval of the Board for appointment of trustee

        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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        Board approval for trustee appointments required; trustee company formation also needs prior approval under Regulation 17. Regulation 17 mandates prior approval of the Board for the appointment of any trustee of a mutual fund and permits existing trustees, with the prior approval of the Board, to form a trustee company to act as trustee; a previously included proviso requiring replacement within a fixed period has been omitted by amendment.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Board approval for trustee appointments required; trustee company formation also needs prior approval under Regulation 17.

                              Regulation 17 mandates prior approval of the Board for the appointment of any trustee of a mutual fund and permits existing trustees, with the prior approval of the Board, to form a trustee company to act as trustee; a previously included proviso requiring replacement within a fixed period has been omitted by amendment.


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