NOTIFICATION No. LAD-NRO/GN/2011-12/30/37715, dated 14-12-2011

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to amend the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, namely:-

1. These Regulations may be called the Securities and Exchange Board of India (Debenture Trustees) (Second Amendment) Regulations, 2011.

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

3. Regulation 7A of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 shall be substituted with the following, namely: –

“7A. Capital Adequacy Requirement. – The capital adequacy requirement referred to in clause (g) of regulation 6 shall not be less than the networth of two crore rupees:

Provided that a debenture trustee, who was granted a certificate of initial or permanent registration, as the case may be, under these regulations prior to the commencement of the Securities and Exchange Board of India (Debenture Trustees) (Second Amendment) Regulations, 2011, shall raise its networth to the said minimum within a period of two years from such commencement.”

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