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Third Schedule
Rules and conditions of contract of investment management including duties and responsibilities of Asset Management Company are mentioned below- 1. The Asset Management Company appointed by the Entrepreneur or Trustee with prior approval of the Commission, will run various Schemes and fund of various Schemes of the Mutual Fund as per Trust agreement and rules. 2. Other than the duties and responsibilities of Asset Management Company described in rule-33, the Asset Management Company , in concurrence with the entrepreneur and the Trustee, cannot adopt or operate any other work without prior consent of the Commission except preparation of size, aim, type, leaflet for the scheme and taking consent of the Commission for that, issue of unit certificate of the scheme, formation of investment portfolio and its management/operation, determination of NAV , prepare financial and other report, jobs relating to supply and introducing 3. The Asset Management Company will invest fund of various Schemes as per Trust agreement and rules 4. The Asset Management Company will not do hypothecation of such a portion of wealth of Scheme or will not receive such wealth whose obligation is unlimited. 5. The Asset Management Company will not do any activities against the rules or will not give any term loan or commitment . 6. Any losses or financial expenditure incurred by the Asset Management Company or any of his executives or any person nominated by him will not be reimbursed by the Trust wealth. 7. The Asset Management Company will ensure that, no application declaration of sales proposal (except rate or yield related declaration), advertisement, report or any other printed material will be delivered to any Unit Owner, public, News Papers, or probable clients for the purpose of communication , without written prior approval of the Commission and there will not be any such statement which is dissimilar with Trust document or approved Scheme. 8. The Asset Management Company will inform the Entrepreneurs the re purchase value and net wealth value and the process of their determination as per time schedule determined by the Trustee and the Commission. 9. Information regarding operation of various Schemes operated by the Asset Management Company shall have to be submitted to the Trustee as per his requirement within the time schedule given by him so that, it is proved that, the Asset Management Company is working as per Trust document and rules. 10. The Asset Management Company will submit to the Commission and the Trustee quarterly report regarding activities of the Schemes of the Mutual Fund or interim report as required by the Commission and the Trustee. 11. The Trustee reserves the right to dismiss, with prior approval of the Commission, the Asset Management Company based on some definite reasons. |
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