Regulation 11 - Responsibilities of project manager - Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014

Responsibilities of project manager 11. (1) The project manager shall undertake operations and management of the InvIT assets including making arrangements for the appropriate maintenance, as may be applicable, either directly or through the appointment and supervision of appropriate agents and as required under any project agreement including a concession agreement in the case of a PPP project. (2) If the InvIT invests in under construction projects, the project manager shall, (a) undertake the operations and management of the projects, either directly or through appropriate agents; (b) oversee the progress of development, approval status and other aspects of the project upto its completion, in case of appointment of agents for the purpose of execution. (3) The project manager shall discharge all obligations in respect of achieving timely completion of the 1 [project implementation agreement/] infrastructure project, wherever applicable, implementation, operation, maintenance and management of such infrastructure project in terms of the project management agreement. *************** NOTES:- 1 Inserted by Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2016, w.e.f 30.11.2016