Schedule - IV - Contents of Instrument of Trust - Securities and Exchange Board of India (Issue and Listing of Securitized Debt Instruments and Security Receipts) Regulations, 2008

SCHEDULE IV 1 [Securities and Exchange Board of India (Issue and Listing of Securitised Debt Instruments and Security Receipts)] Regulations, 2008] (See regulation 9) Contents of Instrument of Trust The Trust Deed or other constitutional document shall contain the following, namely:- 1. That the trustees shall take into their custody, or under their control the debts or receivables of the schemes of the special purpose distinct entity and hold it in trust for the benefit of investors. 2. That the investors in the securitised debt instruments have such beneficial interest in the underlying debt or receivables as may have been conferred by the scheme. 3. That the trustees themselves do not have any beneficial interest in the underlying debts or receivables. 4. The duties and obligations of the trustees shall be clearly specified. 5. The particulars of interest or association of the trustees which they may have with the originator or the sponsor. The trustees shall also furnish to the board of trustees or trustee company particulars of interest or association which they may have in originator or sponsor. 6. The originator or any of its associates does not exercise control over the trustee. 7. The trustees shall act in the interest of the investors and they shall provide or cause to provide information and disclosures to investors and Board as may be specified by the Board. 8. The trustees shall take reasonable and due care to ensure that the funds raised under the schemes launched by the special purpose distinct entity are in accordance with the provisions of the Act and these regulations. 9. The details of the Trust Property. 10. The trustee shall issue certificate or instrument (by whatever name called) evidencing the beneficial interest of the investors in the debt or receivables assigned to the special purpose distinct entity. 11. Declaration that the trustees and the special purpose distinct entity shall not make or guarantee loans or take up any activity which is not a regulated activity in terms of these regulations. 12. Broad policies regarding allocation of payments 13. The trustee shall furnish annual report about the pool performance and the investor servicing to the investors. 14. Trusteeship fee, if any, payable to trustees 15. No amendment to the Trust Deed which prejudicially affects the interest of investors shall be carried out. 16. The removal of the trustee in all cases would require the prior approval of the Board. 17. The Trust Deed shall lay down the procedure for seeking approval of the investors under such circumstances as are specified in the Regulations. ************* NOTES:- 1 Substituted vide Notification No. SEBI/LAD-NRO/GN/2018/26 dated 26-06-2018 before it was read as, Securities and Exchange Board of India (Public Offer and Listing of Securitised Debt Instruments) Regulations, 2008