Rights and responsibilities of trustee

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.... manager complies with regulation 10 and shall obtain compliance certificate from the manager in the form as may be specified on a quarterly basis. (4) The trustee shall ensure that the manager complies with the reporting and disclosures requirements in these regulations and in case of any delay or discrepancy, require the manager to rectify the same on an urgent basis. (5) The trustee shall review the transactions carried out between the manager and its associates and where the manager has advised that there may be a conflict of interest, shall obtain confirmation from a practising chartered accountant ^1[or a valuer, as applicable,] that such transaction is on arm's length basis. (6) The trustee shall periodically review the ....

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....e shall appoint the new manager within three months from the date of termination of the earlier investment management agreement; (c) the previous manager shall continue to act as such at the discretion of trustee till such time as new manager is appointed; (d) the trustee shall ensure that the new manager shall stand substituted as a party in all the documents to which the earlier manager was a party; (e) the trustee shall ensure that the earlier manager continues to be liable for all its acts of omissions and commissions notwithstanding such termination. (14) 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 man....