Petition dismissed; file fresh representation on alleged illegal deductions and GST-inclusive rate recomputation - authorities must decide within thre...
The amendment permits debenture trustees to undertake other financial-sector or fee-based non-fund activities on an arm's-length basis through separate business units, subject to conditions and specified regulator guidelines; trustees also must ring-fence required net worth and, if regulated by the central bank, operate debenture-trustee functions via a separate unit, with a six-month transition window for existing registrants. Trust deed acceptance must follow section 71/Format SH.12 timelines, allowing deviations only with a key summary and rationale in issuer disclosures. Trustees gain express inspection and information-call powers and may use a Recovery Expense Fund with debenture-holder consent.
The amendment permits debenture trustees to undertake other financial-sector or fee-based non-fund activities on an arm's-length basis through separate business units, subject to conditions and specified regulator guidelines; trustees also must ring-fence required net worth and, if regulated by the central bank, operate debenture-trustee functions via a separate unit, with a six-month transition window for existing registrants. Trust deed acceptance must follow section 71/Format SH.12 timelines, allowing deviations only with a key summary and rationale in issuer disclosures. Trustees gain express inspection and information-call powers and may use a Recovery Expense Fund with debenture-holder consent.
Note: It is a system-generated summary and is for quick reference only.
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