Trustee Duties strengthened: enhanced fiduciary, oversight, and reporting obligations to protect unitholders and ensure governance compliance. The regulations impose timelines to fill vacancies in investment manager and independent director positions, formalise expanded trustee duties emphasising transparency, due diligence and unitholder protection with an illustrative Schedule X, and restrict transferability of locked-in units within sponsor groups while allowing transfers to incoming sponsors or self-sponsored managers subject to minimum unitholding conditions. They also broaden permitted investments to include certain unlisted service company shares, specified liquid mutual fund schemes, and interest rate derivatives solely for hedging, and refine credit-rating and distribution-consistency rules.
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 strengthened: enhanced fiduciary, oversight, and reporting obligations to protect unitholders and ensure governance compliance.
The regulations impose timelines to fill vacancies in investment manager and independent director positions, formalise expanded trustee duties emphasising transparency, due diligence and unitholder protection with an illustrative Schedule X, and restrict transferability of locked-in units within sponsor groups while allowing transfers to incoming sponsors or self-sponsored managers subject to minimum unitholding conditions. They also broaden permitted investments to include certain unlisted service company shares, specified liquid mutual fund schemes, and interest rate derivatives solely for hedging, and refine credit-rating and distribution-consistency rules.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
