Regulation 7 - Eligibility for being debenture trustee - Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993

1 [Eligibility for being debenture trustee. 7. No person shall be entitled to act as a debenture trustee unless it is :- (a) a scheduled bank carrying on commercial activity; or (b) a public financial institution as defined sub-section (72) of section 2 of the Companies Act, 2013; or (c) an insurance company; or (d) body corporate as defined under sub-section (11) of section 2 of the Companies Act, 2013.] ************* NOTES:- 1 Substituted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2017, w.e.f., 13-7-2017. Prior to the same, regulation 7 read as follows: Eligibility for being debenture trustee. 7. No person shall be entitled to act as a debenture trustee unless he is either- (a) a scheduled bank carrying on commercial activity; or (b) a public financial institution within the meaning of section 4A of the Companies Act, 1956; or (c) an insurance company; or (d) body corporate.