Permissible structures for special purpose distinct entity

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....TITIES AND INCIDENTAL MATTERS 9. Permissible structures for special purpose distinct entity. (1) The special purpose distinct entity shall be constituted in the form of a trust the constitutional document whereof entitles the trustees to issue securitised debt instruments: Provided that originator or any of its associates shall not exercise control over the special purpose distinct entity an....

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.... (iii) indemnifying the trustees or the special purpose distinct entity for loss or damage caused to the investors by their act of negligence or commission or omission. (5) The special purpose distinct entity and the trustee shall adopt internal procedures designed to avoid conflict of interest. (6) A special purpose distinct entity shall not raise any moneys in the form of debt or issue ....

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.... originator or with a company in the same management as the sponsor or originator shall not constitute more than one half of the Board of Trustees of the special purpose distinct entity, as the case may be ^1[:] ^2[Provided that where the originator is an entity regulated by the Reserve Bank of India, it shall not have more than one representative on the board of the special purpose distinct en....

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....ivities of an asset management company or portfolio manager or a mutual fund: Provided that the restriction provided in clause (a) shall not apply to - (i) any trust or other body promoted by the National Housing Bank, in respect of activities undertaken by it in terms of the National Housing Bank Act, 1987 (53 of 1987); (ii) any trust or other body promoted by the National Ba....