Trustee duties: oversee asset manager, safeguard fund property, prevent conflicts, ensure unitholder protections, and report noncompliance. Regulation 85 makes trustees the custodians and fiduciaries of Mutual Fund Lite scheme property, requiring an investment management agreement with the asset management company, adequate infrastructure and oversight, periodic reporting and information rights, quarterly review of related-party transactions, monitoring of complaints, consent for change in control, prevention of undue advantage to associates, reporting of trustees' and key personnel's transactions, securing unitholder consent in prescribed cases, commenting on sponsor group investments, exercising Board-specified due diligence, and permitting non-liability for good faith acts with adequate due diligence.
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.
Trustee duties: oversee asset manager, safeguard fund property, prevent conflicts, ensure unitholder protections, and report noncompliance.
Regulation 85 makes trustees the custodians and fiduciaries of Mutual Fund Lite scheme property, requiring an investment management agreement with the asset management company, adequate infrastructure and oversight, periodic reporting and information rights, quarterly review of related-party transactions, monitoring of complaints, consent for change in control, prevention of undue advantage to associates, reporting of trustees' and key personnel's transactions, securing unitholder consent in prescribed cases, commenting on sponsor group investments, exercising Board-specified due diligence, and permitting non-liability for good faith acts with adequate due diligence.
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