Rights and obligations of the trustee

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....ective investment scheme] and submitted their bio-data which shall contain the educational qualifications and past experience in the areas relevant for fulfilling the objectives of the ^3[collective investment scheme]s; (c) appointed auditors to audit the accounts of the ^4[collective investment scheme] from the list of auditors approved by the Board; (d) appointed a compliance officer to comply with the provisions of the Act and these regulations and to redress investor grievances; (e) appointed registrars to an issue and share transfer agent; (f) prepared a compliance manual and designed internal control mechanisms including internal audit systems; (g) taken adequate insurance for the assets of....

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....t for the benefit of the unit holders in accordance with these regulations and the provisions of trust deed. (5) The trustee shall be responsible for the calculation of any income due to be paid to the ^14[collective investment scheme] and also for any income received in the ^15[collective investment scheme] to the unit holders. (6) The trustee shall convene a meeting of the unit holders- (a) whenever required to do so by the Board in the interest of the unit holders; or (b) whenever required to do so on the requisition made by unitholders holding at least one-tenth of nominal value of the unit capital of any ^16[collective investment scheme]; or (c) when any change in the fundamental attributes of any &nbsp....

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.... the ^23[collective investment scheme] from such authority as is competent to grant such clearance or no objection certificate. (ii) The trustee shall abide by the Code of Conduct as specified in the Third Schedule. (9) The trustee shall furnish to the Board on a quarterly basis (i.e., by end of March, June, September and December), every year- (a) a report on the activities of the ^24[collective investment scheme]; (b) a certificate stating that the trustee has satisfied himself that affairs of the Collective Investment Management Company and of the various ^25[collective investment scheme] are conducted in accordance with these regulations and investment objective of each ^26[collective investment scheme]. (10) ....