(a) ensure that the sale, issue, repurchase, redemption and cancellation of shares effected by or on behalf of an investment company are carried out in accordance with these Regulations and with its memorandum and articles,
(b) ensure that the value of units is calculated in accordance with these Regulations and the investment company's memorandum and articles,
(c) carry out the instructions of the investment company unless they conflict with these Regulations or its memorandum and articles,
(d) ensure that in transactions involving an investment company's assets any consideration is remitted to it within the usual time limits, and
(e) ensure that an investment company's income is applied in accordance with these Regulations and its memorandum and articles.
(2) A trustee shall enquire into the conduct of the investment company in each annual accounting period and report thereon to the shareholders. The trustees report shall be delivered to the investment comp