Schedule - 03 - Code of Conduct - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

THIRD SCHEDULE SECURITIES AND EXCHANGE BOARD OF INDIA (COLLECTIVE INVESTMENT SCHEME) REGULATIONS, 1999 [Regulations 14(h), 21(8), 59(f)] CODE OF CONDUCT 1. Interests of all classes of unit holders to be protected The organisation, operation and management of the Collective Investment Scheme and the creation of assets therein shall be conducted- (a) in the interest of all classes of unit holders of the 1 [collective investment scheme]; and (b) not merely in the interests of the directors of the company or associated persons or any special class of unit holders. 2. Dissemination of information (a) the trustee and the Collective Investment Management Company shall ensure the timely dissemination to all unit holders, of adequate accurate and explicit information about the investment policies, investment objectives, financial position and general affairs of the 2 [collective investment scheme]; (b) all such information shall be fairly presented in simple language. 3. Conflict of interest The trustee and the Collective Investment Management Company shall in managing the affairs of the 3 [collective investment scheme]s avoid conflicts of interest and treat the interests of all unit holders paramount in all matters. 4. Segregation The trustee and the Collective Investment Management Company shall ensure scheme-wise segregation of funds and assets as created. 5. Integrity, investments as per objects, etc. The trustee and the Collective Investment Management Agency shall (a) carry on the business and make investments in accordance with the investment objectives stated in the offer documents and take investment decisions solely in the interests of unit holders; (b) not use any unethical means for marketing their 4 [collective investment scheme]s or for inducing investors to bring the same; (c) carry on all their activities in the interests of unit holders and with strict regard to integrity and honesty. ************* NOTES:- 1 Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014, w.e.f. 9-1-2014. 2 Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014, w.e.f. 9-1-2014. 3 ibid. 4 ibid.