Securities And Exchange Board Of India - Subsection
Section 4(2) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
(2)Without prejudice to the generality of the foregoing provisions, the Board shall consider the following, mandatory requirements namely,-(a)the applicant is [the sponsor on behalf of the] [Substituted 'a' by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] trust and the instrument of trust is in the form of a deed duly registered in India under the provisions of the Registration Act, 1908;(b)the trust deed has its main objective as undertaking activity of InvIT in accordance with these regulations and includes responsibilities of the trustee in accordance with regulation 9;(c)persons have been designated as sponsor(s), investment manager and trustee under these regulations and all such persons are separate entities;(d)with regard to sponsor(s) ,-(i)[each sponsor shall be clearly identified in the application of registration to the Board and in the offer document/ placement memorandum, as applicable] [Substituted 'there are not more than 3 sponsors' by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).];(ii)each sponsor has,-
