As a result of this amendment, a number of officials in the Gujarat Finance Division and the Registrar`s Office began to consider that if a security agent were to obtain a security document and held a trust guarantee for the benefit of several lenders, security is effectively created for the benefit of any lender and would represent different issues/transactions within the meaning of section 5 of the Act. Although stamp duty is limited to a mortgage/mortgage/deposit agreement in Gujarat, stamp duty on these security documents has increasingly been paid in instalments the capped amount and the number of lenders that would be represented by the security agent. This view had been costly to the creation of securities in Gujarat, which was unaffordable in the case of syndicated transactions with a large number of banks. 7 Members and that this is not affected by non-compliance with the Statutes, Rules and Trade Rules of the ACE or other conditions related to membership of the ACE, and that it is free to impose its rights under this Treaty, regardless of its rights against the Member under this Agreement or its Statutes, trade rules and rules, including changes thereto, or in respect of such goods or other conditions of retention or taking of time, regardless of any modification, modification, modification or modification of any general rule or condition that applies to the Member in particular. 19. Although the goods have been mortgaged in order to secure the commitments to the extent set out above, ace is not required to authorize a commitment of this magnitude at any time and ACE may, at its discretion, reduce, modify or vary the scope of such commitment at any time or from time to time. Those that have been mortgaged to ensure the initial commitment shall be considered mortgaged to ensure such modified, increased or reduced or modified adaptation limits. The member undertakes to execute all other documents required for this purpose by ACE/ Depotbank / Depotbank / Depot abdants and to meet all legal requirements in this regard, including the payment of additional stamp duty and registration fees, if applicable. 20. In the event of a reconstitution/restructuring or such modification of the Member`s Partner/Card, if any, a Member is obliged to replace without delay the goods of such outgoing Partners and held on their behalf alone/jointly by the guarantees approved and accepted by ACE. Without prejudice to its rights, ACE reserves the right to withdraw the benefits of these products for additional core capital or other similar requirements until such replacement. 21. The executor hereby declares that he has been duly authorized to execute this act by means of the decision of the Board of Directors / letter of authorization (only in the case of a non-individual member) in accordance with the copy of the Council decision / letter authorized in the annex.
22. All disputes arising out of or related to this Act or its performance shall be settled by arbitration by a single arbitrator appointed by the ACE. The place of arbitration proceedings is in Mumbai, in accordance with the provisions of the Arbitration and Conciliation Act, in 1996 and any amendments to the law. . . .