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    <description>Regulation 9C permits a debenture trustee to undertake activities under other specified financial sector regulators or fee-based, non-fund financial services outside regulator purview, provided such activities are conducted on an arm&#039;s-length basis through separate business units and subject to Board-specified conditions. RBI-regulated trustees must perform trustee functions via a separate business unit. Existing registered trustees must transfer activities to separate units within six months of the amendment&#039;s notification or within any Board-granted extension. The trustee&#039;s specified net worth must be ring-fenced from adverse impacts of these activities.</description>
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