Disqualification from being appointed as trustees

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....(2) No person shall be eligible to be appointed as a trustee unless- (a) he is a person of ability, integrity and standing; and (b) has not been found guilty of moral turpitude; and (c) has not been convicted of any economic offence or violation of any securities laws; and (d) has furnished particulars as specified in Form C. (3) ^1[No asset management company and no director (inclu....

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....rustee company shall be an independent director: Provided that a trustee company, already appointed as the trustee of a mutual fund shall comply with this sub-regulation within a period as may be specified by the Board from time to time.]     ************** NOTES:- 1 Substituted by the SEBI (Mutual Funds) (Fifth Amendment) Regulations, 2006, w.e.f. 21-12-2006. Prior ....

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.... sub-regulation (5) read as under; "Atleast 50% of the trustees shall be independent persons and no such trustee shall be an associate or a subsidiary or associated in any manner with the sponsor." 4. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/08 dated 04-02-2021 w.e.f. 30th day from the date of their publication in the Official Gazette, that is 04-02-2021 before it was read a....