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<h1>SEBI Amends Infrastructure Investment Trusts Regulations: New Rules for Directors, Auditors, and Investor Protection.</h1> The Securities and Exchange Board of India (SEBI) issued the Infrastructure Investment Trusts (Amendment) Regulations, 2023, effective from February 14, 2023. Key amendments include changes in the definition of 'change in control' and criteria for 'independent directors.' The regulations also specify the appointment and term limits for auditors, introduce requirements for limited reviews, and mandate unclaimed distributions to be transferred to the Investor Protection and Education Fund. Additionally, the amendments outline obligations for investment managers, including governance norms, secretarial compliance, and quarterly governance reports, and establish a vigil mechanism and compliance certification requirements.