Regulation 17 - Additional criteria to be complied by the asset management companies on a continuous basis

AMC director cross-appointment limits and change-of-control rules requiring trustee/Board approval, continuous disclosures, and unitholder exit rights

Prohibits a person from concurrently serving as director of more than one asset management company, except that an independent director (as permitted) may hold such positions with prior board approval of the AMC in which they serve; directors must be appointed only with trustees' prior approval, thereby restricting cross-directorships and vesting trustees with appointment oversight. Imposes ongoing compliance and disclosure obligations: the AMC must comply with the regulations, promptly notify the Board of any material change affecting its approval, and furnish trustees with requested information and documents, thereby creating continuous disclosure duties. Bars any change in control unless trustees' and the Board's prior approval are obtained, unitholders are notified, requisite details are published on the AMC's website, and unitholders are offered an exit at prevailing NAV without exit load, thereby protecting unitholder rights and ensuring regulatory and trustee oversight.