Section 7 in The Securities and Exchange Board of India (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations, 2008
7. Conditions of registration.
- Any certificate granted under regulation 6 shall be subject to the following conditions being complied with by the trustee, namely :-(a)Where it proposes to change its management or, control, it shall obtain prior approval of the Board for continuing to act as such after the change;(b)it shall pay the registration fees and annual fees in the manner provided in Schedule II;(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;(d)it shall abide by the provisions of the Act and these regulations in respect of the regulated activities carried on by the special purpose distinct entity;(e)it shall forthwith inform the Board, if any information or particulars previously submitted to the Board is found to be misleading in any material respect or false;(f)it shall forthwith inform the Board, of any material change in the information or particulars furnished, which may have a bearing on the certificate granted to it;(g)it shall abide by the Code of Conduct specified in Schedule III.
