Registration regime for debenture trustees moves to initial then permanent registration, with application, disclosure and fee rules. The amendment replaces single-stage registration with a two stage scheme: a five year certificate of initial registration issued upon eligibility and fee payment, and an application-based permanent registration sought before initial expiry. Permanent applications require the non refundable fee, updated change disclosures and a declaration; they are processed as fresh initial applications with a Board decision within three months. Form A/B text and Regulation cross references are amended, refusal of permanent registration requires cessation of trustee activities subject to limited Board discretion, and fees and payment timing are reorganised including pro rata transitional payments.
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Registration regime for debenture trustees moves to initial then permanent registration, with application, disclosure and fee rules.
The amendment replaces single-stage registration with a two stage scheme: a five year certificate of initial registration issued upon eligibility and fee payment, and an application-based permanent registration sought before initial expiry. Permanent applications require the non refundable fee, updated change disclosures and a declaration; they are processed as fresh initial applications with a Board decision within three months. Form A/B text and Regulation cross references are amended, refusal of permanent registration requires cessation of trustee activities subject to limited Board discretion, and fees and payment timing are reorganised including pro rata transitional payments.
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