Securities And Exchange Board Of India - Subsection
Section 4(2) in The Securities and Exchange Board of India (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations, 2008
(2)The requirement of obtaining registration shall not apply to the following persons, who may act as trustees of special purpose distinct entities, namely :-(a)any person registered as a debenture trustee with the Board;(b)any person registered as a securitisation company or a reconstruction company with the Reserve Bank of India under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002);(c)the National Housing Bank established by the National Housing Bank Act, 1987 (53 of 1987);(d)the National Bank for Agriculture and Rural Development established by the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981):Provided that the aforesaid persons and special purpose distinct entities in respect of which they are trustees shall comply with all other provisions of these regulations:Provided further that the provisions of these regulations shall not apply to the National Housing Bank and the National Bank for Agriculture and Rural Development to the extent of inconsistency with the provisions of their respective Acts.
