Regulation 6 - Consideration of application. - Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993

Consideration of application. 6. The Board shall take into account for considering the grant of a certificate, all matters which are relevant to a debenture trustee and in particular the following, namely, whether the applicant,- (a) has the necessary infrastructure like adequate office space, equipments, and manpower to effectively discharge his activities; (b) has any past experience as a debenture trustee or has in his employment minimum two persons who had the experience in matters which are relevant to a debenture trustee; (c) or any person, directly or indirectly connected with the applicant has not been granted registration by the Board under the Act; 1 [(d) has in his employment at least one person who possesses the professional qualification in law from an institution recognised by the Government;] (e) or any of its director or principal officer is or has at any time been convicted for any offence involving moral turpitude or has been found guilty of any economic offence ; 2 [(f) is a fit and proper person;] 3 [(g) fulfills the capital adequacy requirements specified in regulation 7A.] ************** NOTES:- 1 Substituted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2003, w.e.f. 4-7-2003. Prior to its substitution clause (d) read as under : (d) has in its employment at least one person who possesses the professional qualification from an institution recognized by the Government in finance, accountancy, law or business management. 2 Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 1998, w.e.f. 5-1-1998. 3 Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2003, w.e.f. 4-7-2003.