Net worth requirement raised; transitional compliance period and e-voting permitted for debenture holder consent in trustee regulation. Amendment raises the net worth requirement for registered debenture trustees and grants a three-year transitional period for existing registered trustees to meet the new net worth requirement. It permits obtaining debenture-holder consent by e-voting where applicable and exempts public-issue debentures from the requirement to convene a meeting of all debenture holders in the event of issuer default in payment obligations.
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Net worth requirement raised; transitional compliance period and e-voting permitted for debenture holder consent in trustee regulation.
Amendment raises the net worth requirement for registered debenture trustees and grants a three-year transitional period for existing registered trustees to meet the new net worth requirement. It permits obtaining debenture-holder consent by e-voting where applicable and exempts public-issue debentures from the requirement to convene a meeting of all debenture holders in the event of issuer default in payment obligations.
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