Registration conditions for trustees require prior board approval for management changes and prompt disclosure of material misrepresentations. Conditions of registration require trustees to obtain prior Board approval for changes in management or control; pay registration and annual fees; maintain investor grievance redressal with specified response timelines and report complaint particulars to the Board; comply with the Act and these Regulations in respect of activities by the special purpose distinct entity; promptly inform the Board if previously submitted information is misleading or false; notify any material change affecting the certificate; and abide by the Code of Conduct in Schedule III.