Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993

SEBI/LE/12/93 · 1993-12-29 · Securities and Exchange Board of India

Summary

Part 1 contains Chapter I Preliminary of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 notified on 29 December 1993 in the Gazette of India Extraordinary Part III Section 4. It provides the short title as the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 and that they shall come into force on the date of publication in the Official Gazette, made under section 30 of the Securities and Exchange Board of India Act, 1992 with previous approval of the Central Government. It defines key terms including Act, associate, Board, body corporate, certificate, Change in control, Companies Act, debenture, debenture trustee, Form, Inspecting authority, insurance company, issue, networth and principal officer. This part defines 'regulations', 'scheduled bank', 'trust deed' and 'recognised stock exchange' and provides that undefined expressions have meanings assigned in the Act and empowers the Board to issue clarifications by circular under regulation 2A. Chapter II prescribes the registration procedure requiring applications in Form A with non-refundable fee under Schedule II, Board powers to seek further information and personal

Text

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board with the previous approval of the Central Government hereby makes the following regulations, namely: -

These regulations may be called the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993.

They shall come into force on the date of their publication in the Official Gazette.

“Act” means the Securities and Exchange Board of India Act, 1992 (15 of 1992)

“associate” shall mean any entity which is an associate under sub-section (6) of section 2 of the Companies Act, 2013 or under the applicable accounting standards and shall include a person whose director, is also a director, of the debenture trustee or the body corporate, as the case may be.

“Board” means the Securities and Exchange Board of India established under sub-section (1) of section 3 of the Act;

“body corporate” shall have the meaning assigned to it in or under sub-section (11) of section 2 of the Companies Act, 2013 and for the purpose of these regulations, includes a public financial institution as defined under sub-section (72) of section 2 of the Companies Act, 2013, a non-banking financial company, public sector undertaking established under any Central or State enactment which has its debt securities listed or which seeks to list its debt securities on a recognized stock exchange in accordance with the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, or any other issuer of debt securities in accordance with any Regulations issued by the Board.

“certificate” means a certificate of registration granted by the Board under these regulations;

“Change in control” in case of a body corporate – (A) if its shares are listed on any recognised stock exchange, shall be construed with reference to the definition of control in terms of regulations framed under clause (h) of sub-section (2) of section 11 of the Act; (B) if its shares are not listed on any recognised stock exchange, shall be construed with reference to the definition of control as provided in sub-section (27) of Section 2 of the Companies Act, 2013 (18 of 2013);

“Companies Act” means the Companies Act, 2013 (Act 18 of 2013);

“debenture” means a debenture within the meaning of sub-section (30) of section 2 of the Companies Act, 2013;

“debenture trustee” means a trustee appointed in respect of any issue of debentures of a body corporate;

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Source: SecMarx — Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.