Sr. No.

Checklist Item

Compliance Requirement

Status/Remarks

                                                       A. Details of the Trust

1.

Name of the Trust

Ensure that the trust deed specifies the name of the trust.

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2.

Objects of the Trust

Ensure that the objects/purpose of the trust are clearly specified in the trust deed.

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3.

Details of Settlor

Ensure that the trust deed contains the details of the settlor.

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4.

Details of Scheme(s) Administered

Ensure that the trust deed specifies the scheme(s) administered by the trust.

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5.

Source of Funds

Ensure that the trust deed specifies the source(s) of funds of the trust.

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6.

Utilisation of Trust Funds

Ensure that the trust deed describes the manner in which the trust funds shall be utilised for achieving the objects of the trust.

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7.

Classes of Beneficiaries

Ensure that the trust deed specifies the classes of employees/beneficiaries of the trust.

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8.

Rights and Obligations of Beneficiaries

Ensure that the rights and obligations of the beneficiaries are clearly specified.

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9.

Details of Trustees

Ensure that the trust deed contains details of the trustee(s).

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                                               B. Powers and Duties of Trustees

10.

Administration of Scheme(s)

Ensure that the trustee(s) are empowered to frame rules for administration of the scheme(s).

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11.

Compliance with Scheme Documents

Ensure that the rules framed by the trustee(s) for administration of the scheme(s) comply with the applicable scheme documents.

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12.

Compliance with Objects of Trust

Ensure that the administration of the scheme(s) is consistent with the objects of the trust.

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13.

Compliance with Applicable Regulations

Ensure that the trustee(s) administer the scheme(s) in compliance with the applicable regulations.

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14.

Maintenance of Books of Account

Ensure that the trustee(s) are required to maintain books of account of the trust in accordance with applicable laws and regulations.

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                                                           C. Dissolution of Trust

15.

Dissolution of Trust

Ensure that the trust deed contains provisions governing the dissolution of the trust.

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                                            D. Protection of Beneficiaries' Interests

16.

Duty to Act in the Interest of Beneficiaries

Ensure that the trust deed expressly provides that the trustee(s) shall act in the interests of employees who are beneficiaries of the trust.

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17.

No Detriment to Beneficiaries

Ensure that the trust deed does not contain any provision or permit any action by the trustee(s) that is detrimental to the interests of the beneficiaries, subject to the applicable regulations.

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                                            E. Safeguarding of Beneficiaries' Interests

18.

Safeguard Provisions

Ensure that the trust deed contains such other clauses/provisions as may be necessary for safeguarding the interests of the beneficiaries.

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