Securities And Exchange Board Of India - Subsection
Section 10(7) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
(7)The investment manager shall arrange for adequate insurance coverage for the [InvIT assets] [Substituted 'assets of the InvIT' by Notification No. SEBI/LAD-NRO/GN/2018/07, dated 10.4.2018 (w.e.f. 26.9.2014).]:Provided that this shall not apply in case the [InvIT] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/07, dated 10.4.2018 (w.e.f. 26.9.2014).] assets are required to be insured by any other person under any agreement including a concession agreement or under any Act or regulations or circulars or guidelines of any concessioning authority or government or local body:Provided further that in [case any of the InvIT assets are held] [Substituted 'case of assets held' by Notification No. SEBI/LAD-NRO/GN/2018/07, dated 10.4.2018 (w.e.f. 26.9.2014).] by SPV [holdco or] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).], the investment manager shall ensure that assets held by the SPV [holdco or] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] are adequately insured.
