Regulation 7A - Capital Adequacy Requirement - Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993

1 [Capital Adequacy Requirement. 7A. The capital adequacy requirement referred to in clause (g) of regulation 6 shall not be less than the networth of 3 [ ten ] crore rupees: 2 [***] 4 [ Provided that a debenture trustee holding certificate of registration as on the date of commencement of the Securities and Exchange Board of India (Debenture Trustees) (Amendment) Regulations, 2019 shall fulfil the net worth requirements within three years from the date of such commencement. ] ****** 1 Substituted by the SEBI (Debenture Trustees) (Second Amendment) Regulations, 2011, w.e.f. 14-12-2011. Prior to substation, as inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2003, w.e.f. 4-7-2003, it read as under: Capital Adequacy Requirement. 7A. The capital adequacy requirement referred to in clause (g) of regulation 6 shall not be less than the networth of one crore rupees: Provided that a debenture trustee holding certificate of registration as on the date of commencement of the Securities and Exchange Board of India (Debenture Trustees) (Amendment) Regulations, 2003 shall fulfill the networth requirements within two years from the date of such commencement. 2 Proviso was omitted by the Securities and Exchange Board of India (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations, 2016 w.e.f. 08-12-2016. Prior to omission the proviso read as under: 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.] 3. Substituted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/14 dated 07-05-2019 before it was read as two 4. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/14 dated 07-05-2019