Trust deed requirements for debt securities: execution, disclosure and prohibition on clauses limiting trustee or issuer obligations. Regulation 15 requires issuers to execute a trust deed in favour of the debenture trustee within the prescribed post-issue period, mandates inclusion and disclosure of a clause imposing additional interest on holders where execution is delayed, directs debenture trustees to accept trust deeds containing matters prescribed under section 71 and Form SH.12, structures the deed into Part A (statutory/standard information) and Part B (issue-specific details), and prohibits clauses that limit trustee or issuer obligations, waive statutory or regulatory provisions, or indemnify against negligence.
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Provisions expressly mentioned in the judgment/order text.
Trust deed requirements for debt securities: execution, disclosure and prohibition on clauses limiting trustee or issuer obligations.
Regulation 15 requires issuers to execute a trust deed in favour of the debenture trustee within the prescribed post-issue period, mandates inclusion and disclosure of a clause imposing additional interest on holders where execution is delayed, directs debenture trustees to accept trust deeds containing matters prescribed under section 71 and Form SH.12, structures the deed into Part A (statutory/standard information) and Part B (issue-specific details), and prohibits clauses that limit trustee or issuer obligations, waive statutory or regulatory provisions, or indemnify against negligence.
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