Section 13 in Securities and Exchange Board of India (Debenture Trustees) Rules, 1993
13. Obligation before appointment as debenture trustees.
- No debenture trustee who has been granted a certificate under regulation 8 shall act as such in respect of each issue of debenture unless-(a)[ he enters into a written agreement with the body corporate before the opening of the subscription list for issue of debentures; [Substituted for the following clauses (a) and (b) the SEBI (Debenture Trustees) (Second Amendment) Regulations, 2000, w.e.f 8-8-2000.](b)the agreement under clause (a) shall inter alia contain:(i)that the debenture trustee has agreed to act as such under the trust deed for securing an issue of debentures for the body corporate;(ii)the time limit within which the security for the debentures shall be created.]
