Regulation 49AC - Duties of trustees - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

1 [Duties of trustees: 49AC . (1) The trustees shall ensure that the asset management company has the necessary expertise, internal control systems and risk management mechanism to invest in and manage investments. (2) The trustees shall ensure that the asset management company shall comply with such other requirements related to risk management, investor protection, disclosures and reporting, as may be specified by the Board from time to time. (3) The trustees shall ensure that all activities of the Specialized Investment Fund are in accordance with the provisions of these regulations. ] ************** NOTES:- 1. Inserted vide Notification No.SEBI/LAD-NRO/GN/2024/221 dated 16-12-2024 w.e.f. 01-04-2025