Regulation 35 - Application for listing - Securities and Exchange Board of India (Issue and Listing of Securitized Debt Instruments and Security Receipts) Regulations, 2008

CHAPTER VII LISTING OF SECURITISED DEBT INSTRUMENTS Application for listing. 35. (1) A special purpose distinct entity required by sub-section (2) of section 17A of the Act to get the securitised debt instruments issued by it listed on a recognised stock exchange or otherwise desirous of getting the securitised debt instruments issued by it so listed shall make an application to the stock exchange in the form specified by it along with the following documents and particulars: (a) trust deed or other constitutional document, as the case may be; (b) copies of all offer documents and advertisements in connection with offer of securitised debt instruments by the special purpose distinct entity or its trustee at any time; (c) certified copy of every material document or proposed document which is referred to in any such offer document; (d) certified copies of agreements or memoranda of understanding relating to acquisition or proposed acquisition of debt or receivables from a financial institution or other person; (e) certified copy of certificate of registration granted by the Board to the trustee under these regulations; (f) specimen of any other securitised debt instrument issued by the special purpose distinct entity which are listed or proposed to be listed; (g) any other document or particular as may be required by the stock exchange. (2) As a condition for listing, the securitised debt instruments issued by a special purpose distinct entity shall have the following characteristics: (a) free transferability; (b) being in the nature of such undivided beneficial interest of the investors in the asset pool as is specified in the scheme, and not constituting debt of the special purpose distinct entity or originator; (c) maintenance of a record of the holders thereof, whether holding the same in physical form or dematerialized form. (3) The special purpose distinct entity shall enter into a listing agreement with the recognised stock exchanges where the securitised debt instruments are proposed to be listed. (4) In exercise of the powers conferred by sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957, the Board hereby waives the strict enforcement of sub-rules (1) to (3) of the said rule in relation to listing of securitised debt instruments issued in terms of these regulations, subject to compliance with these regulations.