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Regulation 18(4) (f) makes it obligatory upon the trustees to ensure that before the launch of any scheme the asset management company has prepared a compliance manual and designed internal control mechanisms including internal audit systems.
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 to 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957), the Central Government being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance.
