Regulation 46 - Removal or Resignation of auditors - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

Removal or Resignation of auditors 46. (1) The trustee, after prior approval of the trustee and for reasons to be recorded in writing remove the auditor of the v for misconduct or inefficiency after giving the auditor a reasonable opportunity of hearing : Provided that another auditor for the 1 [collective investment scheme] is appointed by trustee immediately from auditors empanelled with the Board. (2) The auditor of the 2 [collective investment scheme] may resign by giving a three months written notice to the Collective Investment Management Company and to the trustee. ************** NOTES:- 1 Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014, w.e.f. 9-1-2014. 2 ibid.