Restrictions on business activities of the asset management company

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....pecified by the Board from time to time]], if any of such activities are not in conflict with the activities of the mutual fund: Provided that the asset management company may itself or through its subsidiaries undertake such activities, as permitted under clause (b), if, - (i) it satisfies the Board that bank and securities accounts are segregated activity wise; (ii) it meets with the capital adequacy requirements, if any, separately for each such activity and obtain separate approval, if necessary under the relevant regulations; (iii) it ensures that there is no material conflict of interest across different activities; (iv) the absence of conflict of interest shall be disclosed to the trustees....

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....nd till further directions, as may be specified by the Board, subject to compliance with the following additional conditions:- (i) it satisfies the Board that key personnel of the asset management company, the system, back office, bank and securities accounts are segregated activity wise and there exist system to prohibit access to inside information of various activities; (ii) it meets with the capital adequacy requirements, if any, separately for each of such activities and obtain separate approval, if necessary under the relevant regulations. ^8[Provided further that an asset management company may become a proprietary trading member for carrying out trades in the debt segment of the recognised stock exchanges, on be....

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....back office, bank and securities accounts are segregated activity-wise and there exist systems to prohibit access to inside information of various activities : Provided further that asset management company shall meet capital adequacy requirements, if any, separately for each such activity and obtain separate approval, if necessary under the relevant regulations. (3) The asset management company shall not invest in any of its schemes unless full disclosure of its intention to invest has been made in the offer documents [in case of schemes launched after the notification of these regulations] : Provided that an asset management company shall not be entitled to charge any fees on its investment in that scheme.]" [*amended by the S....