Section 9A in Securities and Exchange Board of India (Debenture Trustees) Rules, 1993
9A. [ Conditions of registration. [Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f. 7-9-2006.]
(1)Any [initial registration] granted under regulation 8 or any permanent registration granted under regulation 8A shall be subject to the following conditions, namely :-(a)where debenture trustee proposes [change in control] [Substituted 'to change its status or constitution' by SEBI (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2011, w.e.f. 13-4-2011.], it shall obtain prior approval of the Board for continuing to act as such after the change;(b)it shall pay the fees for [initial registration or permanent registration] [Substituted 'registration or renewal' by the SEBI (Debenture Trustees) (Amendment) Regulations, 2011, w.e.f. 5-7-2011.], as the case may be, in the manner provided in these regulations;(c)it shall take adequate steps for redressal of grievances of the investors within one month of the date of the receipt of the complaint and keep the Board informed about the number, nature and other particulars of the complaints received and the manner in which such complaints have been redressed;(d)it shall maintain capital adequacy requirements specified in regulation 7A at all times during the period of the [initial registration or permanent registration] [Substituted 'certificate or renewal thereof' by the SEBI (Debenture Trustees) (Amendment) Regulations, 2011, w.e.f. 5-7-2011.];(e)it shall abide by the regulations made under the Act in respect of the activities carried on by it as a debenture trustee.(2)Nothing contained in clause (a) of sub-regulation (1) shall affect the obligation to obtain a fresh registration under section 12 of the Act in cases where it is applicable.]
