Regulatory Alerts2011-07-12
Guidelines on Trust Deeds
The Securities Commission Malaysia issued these guidelines to mandate minimum content requirements for trust deeds governing debentures and sukuk, superseding previous 2000 standards to enhance investor protection. The document specifies mandatory provisions including detailed descriptions of securities, interest or profit rates, covenants to comply with terms, and strict reporting obligations for issuers. It further outlines events constituting default, trustee powers and duties, sinking fund mechanisms, and specific rules for convertible instruments and related-party transactions.
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