https://www.taxtmi.com/acts?id=41835 The regulation requires appointment of a trustee company whose board and the Fund Manager need prior Board approval; the trustee's duties mirror mutual fund trustees and its activities are limited to trustee functions unless the Board consents. Two thirds of the trustee board must be independent directors unaffiliated with Sponsor or Manager, and an audit committee must review placement memorandum compliance. The Manager must appoint a Governance Committee of market experts to approve policies with the boards, supervise conflicts of interest, and oversee asset liability mismatch management during market dislocation. en-us Mon, 19 Jun 2023 18:51:42 +0530 Thu, 29 Aug 2024 14:21:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=41835 The regulation requires appointment of a trustee company whose board and the Fund Manager need prior Board approval; the trustee's duties mirror mutual fund trustees and its activities are limited to trustee functions unless the Board consents. Two thirds of the trustee board must be independent directors unaffiliated with Sponsor or Manager, and an audit committee must review placement memorandum compliance. The Manager must appoint a Governance Committee of market experts to approve policies with the boards, supervise conflicts of interest, and oversee asset liability mismatch management during market dislocation. Act-Rules SEBI Mon, 19 Jun 2023 18:51:42 +0530 https://www.taxtmi.com/acts?id=41835