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TMI BlogSecurities and Exchange Board of India (Debenture Trustees) (Amendment) Regulations, 2003.X X X X Extracts X X X X X X X X Extracts X X X X ..... tions, 2003. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993- a. For the existing Schedule III, the following schedule III shall be substituted, namely : - Schedule III Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 [Regulation 16] CODE OF CONDUCT 1. A Debenture Trustee shall make all efforts to protect the interests of debenture holders. 2. A debenture Trustee shall maintain high standards of integrity, dignity and fairness in the conduct of its business. 3. A Debenture Trustee shall fulfill its obligations in a prompt, ethical and professional ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll make appropriate disclosure to the client of its possible source or potential areas of conflict of duties and interest while acting as Debenture Trustee which would impair its ability to render fair, objective and unbiased services. 11. A Debenture Trustee shall not indulge in any unfair competition, which is likely to harm the interests of other trustees or debenture holders or is likely to place such other debenture trustees in a disadvantageous position while competing for or executing any assignment nor shall it wean away the clients of another trustee on assurance of lower fees. 12. A Debenture Trustee shall not discriminate among its clients, except and save on ethical and commercial considerations. 13. A Debenture Trustee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2003. 19. A Debenture Trustee shall not make untrue statement or suppress any material fact in any documents, reports, papers or information furnished to the Board. 20. A Debenture Trustee or any of its directors, partners or manager having the management of the whole or substantially the whole of affairs of the business, shall not either through its account or their respective accounts or through their associates or family members, relatives or friends indulge in any insider trading. 21. A Debenture Trustee shall ensure that the board is promptly informed about any action, legal proceeding etc. initiated against it in respect of any material breach or non compliance by it, of any law, rules, regulations directions of the board or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll be responsible for the acts or omissions of its employees and agents in respect to the conduct of its business. 27. A Debenture Trustee shall provide adequate freedom and powers to its compliance officer for the effective discharge of its duties. 28. A Debenture Trustee shall ensure that the senior management, particularly decision makers have access to all relevant information about the business on a timely basis. 29. A Debenture Trustee shall ensure that good corporate policies and corporate governance is in place. 30. A Debenture Trustee shall develop its own internal code of conduct for governing its internal operations and laying down its standards of appropriate conduct for its employees and officers in the carrying out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oard of India (Appeal to Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide No. S.O. 278 (E). (f) on May 29, 2001 by Securities and Exchange Board of India (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide No. S.O. 476 (E). (g) on September 27, 2002 by Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide No. S.O. 1045 (E). (h) on July 04, 2003 by Securities and Exchange Board of India (Debenture Trustees) (Amendment) Regulations, 2003 vide No. S.O. 763 (E). [F.No.SEBI/LAD/DOP/18336/2003] GYANENDRA NATH BAJPAI, Chairman - Notification Tax Management India - taxmanagementindia - taxmanagement - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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