Regulation 5 - Factors for consideration - Securities and Exchange Board of India (Issue and Listing of Securitized Debt Instruments and Security Receipts) Regulations, 2008

Factors for consideration 5. While considering an application made under regulation 4, the Board may have regard to all relevant factors, including the following, namely:- (a) the applicant s track record, professional competence and general reputation and, where applicable those of its promoters and directors; (b) where the applicant is a body corporate, its objects as per the memorandum of association or other constitutional document, composition of its board of directors and other relevant matters; (c) whether the applicant has adequate infrastructure to ensure proper servicing of the securitisation transaction; adherence to the terms of the transaction documents by the originator, underwriter, credit enhancement provider, liquidity provider, and other parties to the securitisation transaction, and ensure compliance with the provisions of the Act and these regulations; (d) whether the applicant and the special purpose distinct entity have complied with or in a position to comply with the requirements of these regulations; (e) whether any previous application for grant of certificate made by any person directly or indirectly connected with the applicant was rejected by the Board; (f) whether the applicant, its promoters and directors are fit and proper persons in terms of the criteria specified in respect of the intermediaries registered under the Securities and Exchange Board of India Act, 1992 (15 of 1992).