Investment of the Deposited Property. The text under sub-clause 9(iii) shall be deleted and replaced as under: The purchase or sale of any Investment in listed securities for the account of the Trust shall be made on the Stock Exchange through a broker who must be a member of the Stock Exchange, unless the Management Company is satisfied that it is possible and permissible under the rules and regulations to make such purchase or sale more advantageously in some other manner. The broker will be appointed from time to time by the Management Company under intimation to the Trustee and in accordance with the criteria developed for the appointment of broker.
Investment of the Deposited Property. Inserted vide 5th Supplemental Trust Deed dated 23rd May, 2017.
Investment of the Deposited Property. New Clauses 4.11 to 4.14 shall be added under Clause 4, as under:
Investment of the Deposited Property. 4.1 During and prior to the commencement of the Initial Period the Trustee shall hold the Deposited Property in cash in a separate account with a Bank or a financial institution having atleast, if available, an investment grade rating (assigned by any credit rating agency licensed by the Commission) and approved by the Management Company. After the Initial Period all cash, except in so far as such cash may in the opinion of the Management Company be required for transfer to the Distribution Account, shall be invested by the Trustee from time to time in such Authorized Investments as may (subject always to the provisions of this Deed) be directed by the Management Company.
4.2 Any Investment may at any time be realized at the discretion of the Management Company either in order to invest the proceeds of sale in other Authorised Investments or to provide cash required for the purpose of any provision of this Deed or in order to retain the proceeds of sale in cash or on deposit as aforesaid or partly one and partly another. Any Investment which ceases to be an Authorised Investment shall be realized and the net proceeds of realization shall be applied in accordance with this clause; Provided that the Trust may postpone the realization of such Investment for such period as the Management Company may determine to be in the interest of Holders.
Investment of the Deposited Property. (A) Subject to Clause 17, all cash and other property which ought, in accordance with the provisions of this Trust Deed, to form part of the Deposited Property shall be paid or transferred to the Trustees forthwith on receipt by the Managers. Any investment in registered form shall as soon as reasonably practicable after receipt of the necessary documents by the Trustees be registered in the name of the Trustees or its nominee and all cash shall be applied at the discretion of the Managers (but subject always to the provisions of this Deed and any limitations placed by the Commission or any other authority) in the acquisition of Authorised Investments. PROVIDED THAT all or any amount of cash in any currency may during such time or times as the Managers may think fit be retained in cash or in short-term deposit with any commercial bank or financial institution approved by the Trustees (and in the case of financial institutions, approved by the Commission as well) and on such terms as the Managers may think fit. Further, in the case of any cash forming part of the deposited property which is deposited with the Manager for a period exceeding 72 hours or with any connected person of the Manager, interest must be received on the deposit at a rate not below the prevailing rate for a deposit of that term.
Investment of the Deposited Property. The sub-clause (v) under Clause 9 shall be deleted. For the sake of clarity, the deleted sub-clause 9(v) is as under: The purchase or acquisition of units in other unit trusts shall not exceed in the aggregate ten percent (10%) of the Net Assets immediately after such investment has been made.
(26) Deletion of sub-clause 9
Investment of the Deposited Property. In sub-clause 9(ix), a new point (e) with the words “Participate in Continuous Funding System (CFS)” shall be added. For the sake of clarity, it is stated that after the said amendment, sub-clause 9(ix) is read as under:
Investment of the Deposited Property. The sub-clause (x) under Clause 9 shall be deleted. For the sake of clarity, the deleted, sub-clause 9(x) is as under: Subject to the Rules and any other applicable law, the Management Company may, on behalf of the Fund, write call options on any of the securities held in the portfolio, if there is a market based exit mechanism from options so written. The Management Company may also, on behalf of the Fund, buy put options equivalent to any securities held in the portfolio. Under no circumstances shall the Management Company buy or sell such options on behalf of the Fund that will result in an exposure beyond the number of underlying securities held in the portfolio of the Fund. The Management Company may, however, buy call options or put options, on one or more item (financial or otherwise) that in its opinion would act as a hedge/defensive proxy for the overall market risk. However, the cost of maintaining a defensive hedge shall not exceed one percent per annum of the Fund (for the preceding twelve months) at the time such transactions are entered into.
Investment of the Deposited Property. The text under sub-clause 9(xi) shall be deleted and replaced with the text as under: In the event the exposure of the Scheme exceeds the limits specified in the Offering Document and the Rules and Regulations, because of corporate actions including taking up rights or bonus issue or due to market price increase or decrease in net assets, the excess exposure shall be regularized within three months of the breach of limits unless the said period of three months is extended by the Commission on an application by the Management Company. But in any case the Management Company shall not invest further in such shares or sectors while the deviation exists. However, this restriction on purchase shall not apply to any offer of right shares or any other offering, if the Management Company is satisfied that accepting such offer is in the interest of the Trust.
Investment of the Deposited Property. The sub-clause (xii) under Clause 9 shall be deleted. For the sake of clarity, the deleted, sub-clause 9(xii) is as under: The Management Company may from time to time, for the account of the Trust, direct the Trustee to enter into underwriting or sub-underwriting contracts in relation to the subscription or purchase of Authorized Investments upon such terms in all respects as the Management Company shall think fit but subject always to the provisions of the Rules and this Deed and so that no such contract shall relate to an Authorized Investment which if acquired would constitute a holding in excess of the exposure limit specified in the Rules. All Authorized Investments acquired pursuant to any such contract shall form part of the Deposited Property and any subscription or purchase moneys payable there under shall be paid out of the Deposited Property.
