Regulation 23 - Arrangements for dematerialisation - Securities And Exchange Board Of India (Issue And Listing Of Securitised Debt Instruments And Security Receipts) Regulations, 2008

Arrangements for dematerialisation. 23. (1) Prior to submitting the draft offer document with the Board under regulation 22, the special purpose distinct entity shall enter into an arrangement with a registered depository for dematerialisation of the securitised debt instruments that are proposed to be issued to the public. 1 [ (2) The issue of securitised debt instruments by the special purpose distinct entity and the subsequent transfers shall only be in dematerialised form. ] 2 [ **** ] *************** NOTES:- 1 . Substituted vide F. No. SEBI/LAD-NRO/GN/2025/247 dated 05-05-2025 before it was read as, (2) The special purpose distinct entity shall give an option to the investors to receive the securitised debt instruments either in the physical form or in dematerialised form. 2 . Omitted vide F. No. SEBI/LAD-NRO/GN/2025/247 dated 05-05-2025 before it was read as, (3) The holders of dematerialised instruments shall have the same rights and liabilities as holders of physical instruments.