Registration conditions for debenture trustees: prior approval for status changes, fees, capital adequacy, and grievance redressal required. The amendments expand and clarify definitions relevant to debenture trustees, require non-refundable application fees for registration and renewal as specified in Schedule II, and add conditions of registration including prior Board approval for any change of status or constitution before continuing as trustee, payment of fees, maintenance of capital adequacy, investor grievance redressal within one month with reporting to the Board, and compliance with regulations under the Act. The Board must decide on complete applications within a prescribed period and certificates are valid for three years.
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Registration conditions for debenture trustees: prior approval for status changes, fees, capital adequacy, and grievance redressal required.
The amendments expand and clarify definitions relevant to debenture trustees, require non-refundable application fees for registration and renewal as specified in Schedule II, and add conditions of registration including prior Board approval for any change of status or constitution before continuing as trustee, payment of fees, maintenance of capital adequacy, investor grievance redressal within one month with reporting to the Board, and compliance with regulations under the Act. The Board must decide on complete applications within a prescribed period and certificates are valid for three years.
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