Regulation 19 - Appointment of trustee not found guilty - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

Appointment of trustee not found guilty 19. No person shall be appointed as trustee of a 1 [collective investment scheme] if- (a) he has been found guilty of an offence under the securities laws, or (b) the Board or any authority to which the Board has delegated its power has passed against such person, an order under the Act for violation of any provision of the Act or of regulations made hereunder. *************** NOTES:- 1 ibid.