The Hindu Business Line : DSP Merrill plans to amend MF's trust deed

It has sought unit holders' consent to incorporate a new clause. The move is aimed at ensuring that the provisions of the trust deed are at all times in accordance with the relevant legislations — in this case, the SEBI (Mutual Funds) Regulations, 1996 — and enabling activities that are compliant with these Regulations.

The new clause states,inter alia, that in the event of any conflict between the provisions of the trust deed and the regulations, the provisions of the latter will prevail while those of the former will be deemed to be modified to such extent. Also, any provision contained in the deed to the extent to which it is repugnant to the provisions of the regulations will be or become void, as the case may be.

In line with Regulation 15(1), the deed provides that no amendment will be carried out without prior approval of the regulator and unit holders. The approval of the latter may be obtained through a postal ballot, which the company has arranged for.

Unit holders of DSP ML MF's schemes, according to records maintained by CAMS, the Registrar and transfer agents, as on March 31, will be entitled to vote, investors have been informed. The ballot papers are to reach the Registrar not later than May 31.

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