Rights and responsibilities of trustee

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....nterest of the unit holders, ensure that the investment manager complies with regulation 10 and shall obtain compliance certificate from the investment manager, in the form as may be specified, on a quarterly basis. (4) The trustee shall oversee activities of the project manager ^1[***] with respect to compliance with these regulations and the ^2[project implementation agreement/] project management agreement and shall obtain compliance certificate from the Project manager, in the form as may be specified, on a quarterly basis. (5) The trustee shall ensure that the investment manager complies with reporting and disclosures requirements in accordance with these regulations and in case of any delay or discrepancy, require the investment....

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....he voting by unit holders. (13) The trustee shall ensure that the investment manager convenes meetings of unit holders not less than once every year and the period between such meetings shall not exceed fifteen months. (14) The trustee may take up with the Board or with the designated stock exchange, as may be applicable, any matter which has been approved in any meeting of unit holders, if the matter requires such action. (15) In case of any change in investment manager due to removal or otherwise,- a. prior to such change, the trustee shall obtain approval from unit holders in accordance with regulation 22 and from the Board; b. the trustee shall appoint the new investment manager within three months from the da....

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.... f. the trustee shall ensure that the earlier project manager continues to be liable for all its acts of omissions and commissions for the period during which it served as the project manager, notwithstanding such termination. (17) The trustee shall obtain prior approval from the unit holders in accordance with regulation 22 and from the Board in case of change in control of the investment manager. (18) In case of change in control of the project manager in a PPP project, the trustee shall ensure that written consent of the concessioning authority is obtained in terms of the concession agreement prior to such change, where applicable. (19) The trustee ^5[of the InvIT] shall not invest in units of the InvIT in which it is design....

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....g principles of their role and responsibilities: Provided that this sub-regulation shall come into force on the one-hundred eightieth day from the date of the publication of Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2025 in the Official Gazette. (24) For the purpose of ensuring compliance with sub-regulation (23), the trustee may engage external consultants during the period of eighteen months from the date of the publication of Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2025 in the Official Gazette.]     *************** NOTES:- 1 Omitted by Securities and Exchange Board of India (Infrastru....