Chapter VIII - NET ASSET VALUE AND TIMELINES FOR ALLOTMENT OF MUTUAL FUND UNITS AND PAYMENT OF INVESTMENT PROCEEDS (From Regulation 43 to Regulation 46)
Mutual fund trust deeds must include mandated protections and cannot limit trustee or AMC liability for negligent acts. The trust deed must include clauses in the Second Schedule and any further provisions necessary to protect unitholders. It cannot contain terms that limit or extinguish the obligations and liabilities of the trustee company to the mutual fund or unitholders, nor may it indemnify the trustee company or the asset management company for losses to unitholders caused by negligence or acts of commission or omission.
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.
Mutual fund trust deeds must include mandated protections and cannot limit trustee or AMC liability for negligent acts.
The trust deed must include clauses in the Second Schedule and any further provisions necessary to protect unitholders. It cannot contain terms that limit or extinguish the obligations and liabilities of the trustee company to the mutual fund or unitholders, nor may it indemnify the trustee company or the asset management company for losses to unitholders caused by negligence or acts of commission or omission.
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