Regulation 14 - Regulation - BUSINESS ACTIVITIES AND OBLIGATIONS OF COLLECTIVE INVESTMENT MANAGEMENT COMPANY - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999 - Regulation 14 - Obligations of Collective Investment Management Company 14. Every Collective Investment Management Company shall: (a) be responsible for managing the funds or properties of the 1[collective investment scheme] on behalf of the unit holders; (b) take all reasonable steps and exercise due diligence to ensure that the 2[collective investment scheme] is managed in accordance with the provisions of these regulations, offer document and the trust deed; (c) exercise due diligence and care in managing assets and funds of the 3[collective investment scheme]; (d) be responsible for the acts of commissions and omissions by its employees or the persons whose services have been availed by it; (e) remain liable to the unit holders for its acts of commission or omissions, notwithstandin

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