TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... rst person; (iii) who is a holding company or a subsidiary company of the first person (iv) who is a relative of the first person; (v) who is a member of a Hindu Undivided Family wherein the first person is also a member; (vi) such other cases where the Board is of the view that a person shall be considered as an associate based on the facts and factors including the extent of control, independence, conflict of interest; (c) Board means the Securities and Exchange Board of India established under the provisions of section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); 2 [ clearing corporation means an entity that is established to undertake the activity of clearing and settlement of trades in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... directors on the governing board of the recognised stock exchange or recognised clearing corporation; or iii. a person serving as the head of a core function as specified under Part C of Schedule II of these regulations.; or iv. a person who stands higher in hierarchy to the head of any department(s) handling core function(s) in the recognised stock exchange or recognised clearing corporation; or v. reporting officials of key management personnel; or vi. any person defined as a key managerial personnel under the Companies Act, 2013; or vii. any other person who is a key decision making authority at the level of the recognised stock exchange or recognised clearing corporation or its direct or indirect material subsidiaries, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agents; ] (l) novation means the act of one or more recognised clearing corporations interposing between the parties of every trade, so as to be a legal counterparty; (m) persons acting in concert in the context of acquisition or holding of shares or voting rights or control shall mutatis mutandis have the same meaning as assigned to it in clause (q) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 or any amendments thereof; (n) public includes any member or section of the public but does not include any trading member or clearing member or their associates and agents; (o) public interest director means an independent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t for lending by purchasing debt securities with an agreement to resell the debt securities on an agreed future date at an agreed price which includes interest on funds lent; ] (s) rules means the Securities Contracts (Regulations) Rules, 1957; 12 [ **** ] (u) trading member means a person having trading rights in any recognized stock exchange and includes a stock broker. (2) Words and expressions used and not defined in these regulations but defined in the Act, the Companies Act, 2013, the Securities and Exchange Board of India Act, 1992, the Depositories Act, 1996 or any rules or regulations made thereunder shall have the same meanings respectively assigned to them in those Acts, rules or regulations made thereunder or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... D-NRO/GN/2023/124 dated 28-02-2023 (shall come into force on the one hundred and eightieth day from the date of their publication in the Official Gazette) before it was read as, (j) key management personnel includes a person serving as head of any department or in such senior executive position that stands higher in hierarchy to the head(s) of the department(s) in the recognised stock exchange or the recognised clearing corporation, or any person who directly reports to chief executive officer or to the director on the governing board of the recognised stock exchange or recognised clearing corporation, or any person upto two levels below the chief executive officer or managing director, or any other person as may be identified by i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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