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RIGHTS AND OBLIGATIONS OF TRUSTEES

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(i) The trustees and the AMC shall with the prior approval of the SEBI enter into an Investment Management Agreement (IMA);

(ii) The trustee shall have a right to obtain from the AMC such information as is considered necessary by the trustees;

(iii) The Trustees shall ensure before the launch of any scheme that the AMC has:

i) Systems in place for its back office, dealing room and accounting;
ii) appointed Auditors to audit its accounts;
iii) appointed all KMP including Fund Managers for the schemes and submitted their bio data which shall contain education qualifications, past experience in the securities market with the trustees, within 15 days of their appointment;
iv) appointed Compliance officer who shall be responsible for monitoring the compliance of the Act, Rules and Regulations, Notification, Guidelines, Instructions, etc issued by SEBI or CG and for Redressal of investors grievances;
v) appointed Registrar and laid down parameters for their supervision;
vi) prepared a compliance manual and designed internal control mechanisms including internal audit systems;
vii) specified norms for empanelment of brokers and marketing agents;
viii) obtained, wherever required, prior in principle approval for RSE where units are proposed to be listed. 

(iv) The compliance officer has the duty to report any of the non – compliances to the Board;

(v) The Trustees shall ensure that AMC has not given any undue or unfair advantage to any associates or dealt with any  of the associates of AMC in any manner detrimental to interest of unit holders;

(vi) The trustee shall ensure that transactions entered into by AMC are in accordance with these regulations and scheme;

(vii) Where the trustees have reason to believe that the conduct of business of mutual fund is not in accordance with these regulations and scheme they shall forthwith take such remedial steps as are necessary by them and shall immediately inform the Board of the violation and action taken by them;

(viii) The trustees shall quarterly review all transactions carried out between mutual fund, AMC and its associates.

(ix) The trustees shall periodically review all service contracts such as custody arrangements, transfer agency of securities and satisfy itself that such contracts are executed in the interest of unit holders;

(x) The trustee shall periodically review the investor complaints received and the Redressal of the same by AMC;

(xi) The trustees shall abide by the Code of Conduct;

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