The Board of Trustees of the National Pension System Trust may, by a special resolution passed, resolve that the powers exercised by it under these regulation shall, in relation to such matters and subject to such conditions, if any, as may be specified in the resolution, be exercisable also by the Chief Executive Officer.
42. The trust deed, dated 27 th February, 2008,alongwith any amendments thereto, shall be deemed to be the trust deed referred to in regulation 3. Such trust deed shall remain in full force and effect, until extinguished. All actions taken by the National Pension System Trust, under the trust deed dated 27 th February, 2008, alongwith amendments thereto, shall remain valid and binding.
CHAPTER IX OTHER PENSION SCHEMES
43.The provisions of this Chapter shall apply to the pension schemes other than National Pension System and, any other pension scheme referred to in clause (b) of sub-section (1) of section 12 of the Act.
44. The pension schemes referred to in regulation 43shall be constituted in the form of a trust and the instrument of trust shall be in the form of a deed, executed by the sponsor in favour of the trustees and duly registered under the provisions of the Registration Act, 1908 (16 of 1908).
45. The qualifications and the disabilities of the trustees shall be as specified in the case of Board of Trustees under the National Pension System under regulation 5. The trustees shall cease to be trustees as specified under regulation 6.
46. The Trust Deed shall contain at least the indicative contents of the Trust deed provided in regulation 4 of this regulation and applicable for the National Pension System Trust and the trustees shall at all times adhere to the code of conduct set out in Schedule III.
47. The trustees shall have the same powers, duties, functions and responsibilities as are applicable in the case of Board of Trustees under the National Pension System, provided in these regulations, excepting that any reference to the words National Pension System Trust as appearing in these regulations shall be substituted with the words “pension scheme” and shall mean as such. Any reference to intermediaries generally or specifically by name under the National Pension System, shall be substituted with such intermediaries or entities as are or shall be rendering services to the pension schemes other than National Pension System.
48. No such pension scheme shall commence its activities unless registered with the Authority and the existing pension schemes shall conform to these regulations and operational guidelines that may be issued by the Authority, on the date to be notified by the Authority.
26 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
SCHEDULE I PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY ( NATIONAL PENSION SYSTEM TRUST) REGULATIONS, 2015 [See regulation 5 (2) (g)] Information to be furnished by the Trustees to the Authority:
(a) Name:
(b) Age:
(c) Date of Birth:
(d) Qualification and Experience:
(e) Profession:
(f) Relationship with any sponsor or associate of the sponsor, if any:
SCHEDULE II PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (NATIONAL PENSION SYSTEM TRUST) REGULATIONS, 2015 [See regulation 12 (n)] CODE OF CONDUCT FOR TRUSTEES UNDER NATIONAL PENSION SYSTEM
1. The trustees shall act in good faith and in the best interest of the beneficiaries of the trust.
2. Trustees shall act with prudence and reasonable care.
3. Trustees shall act with skill, competence and diligence.
4. Trustees shall maintain independence and objectivity by, among other actions, avoiding conflict of interest, and refraining from self dealing.
5. Trustees shall abide by all applicable laws and rules and the regulations including the guidelines, circulars, notifications issued by the Authority from time to time and the terms of the National Pension System schemes.
6. Trustees shall deal fairly and objectively with all beneficiaries of the National Pension System Trust.
7. Trustees shall maintain high standards of integrity and fairness in all their dealings and in the conduct of their business.
8. Trustees shall render at all times high standards of service, exercise due diligence, ensure proper care and exercise independent professional judgment.
9. The trustees or any of the employees of the trust shall not render, directly or indirectly any investment advice about any security in the publicly accessible media, whether real-time or non-real-time, unless a disclosure of his interest including long or short position in the said security has been made, while rendering such advice.
10. Trustees shall maintain confidentiality of information under the control of the National Pension System Trust.
11. Trustees shall communicate with the Authority and others, as per the role of the National Pension System Trust, in a timely, accurate and transparent manner.
SCHEDULE III PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (NATIONAL PENSION SYSTEM TRUST) REGULATIONS, 2015 [See regulation 46] CODE OF CONDUCT FOR TRUSTEES UNDER OTHER PENSION SCHEME
1. The trustees shall act in good faith and in the best interest of the beneficiaries of the trust.
2. Trustees shall act with prudence and reasonable care.
3. Trustees shall act with skill, competence and diligence.
4. Trustees shall maintain independence and objectivity, among other actions, avoiding conflict of interest, and refraining from self dealing.
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5. Trustees shall abide by all applicable laws and rules and, the regulations including the guidelines, circulars and notifications issued by the Authority from time to time, and the terms of the pension schemes.
6. Trustees shall deal fairly and objectively with all beneficiaries of the trust.
7. Trustees shall maintain high standards of integrity and fairness in all their dealings and in the conduct of their business.
8.The trustees shall render at all times high standards of service, exercise due diligence, ensure proper care and exercise independent professional judgment.
9. The trustees or any of the employees of the trust shall not render, directly or indirectly, any investment advice about any security in the publicly accessible media, whether real-time or non-real-time, unless a disclosure of his interest including long or short position in the said security has been made, while rendering such advice.
10. Trustees shall maintain confidentiality of information of the subscribers under the pension scheme.
11.Trustees shall communicate with the Authority and other intermediaries or entities of such pension scheme, in a timely, accurate and transparent manner.
HEMANT G. CONTRACTOR, Chairperson [ADVT-III/4/Exty./203/14] Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.