Trustee for Interest Scheme

Trustee for Interest Scheme pursuant to Interest Schemes Act 2016

  • Act as the custodian trustee of the assets of the Scheme and to safeguard the interests of the Scheme’s members.

  • Exercise all due diligence and vigilance in carrying out its duties and act in accordance with the Trust Deed and applicable laws and requirements as amended from time to time.

  • Advise (not to the extent of legal, accounting, and tax matters) and assist the Scheme operator in preparation of documents, and submission of the application, for the Scheme to be registered with the Registrar of Companies.

  • Keep and cause to be kept proper books of accounts in relation to the funds in the Trust Account and Sinking Fund Account of the Scheme.

  • Cause the Scheme accounts to be audited by an approved company auditor (as defined in Section 263(2) of the Companies Act 2016 (“Act”)) and cause the relevant financial reporting to be delivered to the members in accordance with the Act.

  • Ensure that the Scheme operator takes out sufficient insurance cover for the Scheme.

  • Ensure that the Register of Members is properly maintained by the Scheme operator.

  • Ensure the Scheme’s advertisements, circulars and other regulated documents comply with the regulatory requirements.

Wood and Tiles

Need more details? Contact us

We are here to assist.