Securities And Exchange Board of India (Public Offer And Listing of Securitised Debt Instruments) (Amendment) Regulations, 2015

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....ritised Debt Instruments) Regulations, 2008, namely:- 1. These Regulations may be called the Securities and Exchange Board of India (Public Offer and Listing of Securitised Debt Instruments) (Amendment) Regulations, 2015. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Public Offer and Listing of Securitised Debt Instruments) Regulations, 2008,- (i) in regulation 4,- (a) in sub-regulation (2), after clause (d), the following shall be inserted, namely:- "(e) any scheduled commercial bank other than a regional rural bank; (f) any public financial Institution as defined under clause (72) of section 2 of the Companies Act, 2013; and (g) any other p....

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....rvise the enforcement of the security in the interest of the investors; (c) carry out such acts as are necessary for resolving the grievances of the investors and for the protection of interest of the investors; (d) ensure on a continuous basis that the trust property of a particular scheme/tranche is available at all times to pay the securitised debt instruments holders of that particular scheme/tranche; (e) exercise due diligence to ensure compliance by the originators, with the listing agreements (if applicable), the trust deed or any other transaction document and if the originator is a banking company or non-banking financial company as defined in the Reserve Bank of India Act, 1934, trustee shall ensure that it has complied with....

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.... the trustees affects the interest of the investors; (m) maintain the net worth as per the requirements specified in these regulations on a continuous basis and inform the Board immediately in respect of any shortfall in the net worth and take necessary corrective action to restore the net worth within a period of six months; (n) ensure that any change in registration status or any administrative, civil or penal action taken by Board or any material change in financial position which may adversely affect the interests of investors is promptly informed to the investors; (o) not relinquish responsibility as trustee in respect of the issue, unless and until another trustee is appointed in its place; (p) have necessary infrastructure to....

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....closures are required to be made in compliance with any law for the time being in force. 14. A special purpose distinct entity and its trustee or any of its directors, partners or managers, shall not either through its account or through associates or family members, relatives or friends indulge in any insider trading. 15. A special purpose distinct entity and its trustee shall have internal control procedures and financial and operational capabilities which can be reasonably expected to protect its operations, its investors and other registered entities from financial loss arising from theft, fraud, and other dishonest acts, professional misconduct or omissions. 16. A special purpose distinct entity and its trustee shall ensure that goo....

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....39;s property including the Pool. [specify if there are future sales] Receivables [detailed description of the receivables] [Aggregate of all the receivables] Disclosure on key pool features and composition LTV-based, tenure-based, ticket size based distribution etc Collection Period ________________ Servicer _______, _________ (individually referred to as a "Servicer" and collectively referred to as the "Servicers") * Obligations of the Servicer(s) (including reporting obligations) * Events of default of the Servicer(s) * Right to change the Servicer(s) Servicer Fee and Incentives [ ] Legal Counsel _______________ [specify whom the Counsel represents] Credit Enhancement for the Transaction * Internal credit enhance....