TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... (d) Board means the Securities and Exchange Board of India established under section 3 of the Act; (e) certificate means a certificate of registration granted under these regulations; 1 [ (f) Change in control (i) in case of a body corporate (A) if its shares are listed on any recognised stock exchange, shall be construed with reference to the definition of control in terms of regulations framed under clause (h) of sub-section (2) of section 11 of the Act; (B) if its shares are not listed on any recognised stock exchange, shall be construed with reference to the definition of control as provided in sub-section (27) of Section 2 of the Companies Act, 2013 (18 of 2013); (ii) in a case other than that of a body c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffering of the issuer; vi. offering brokerage or market making services; (m) NBFC means a Non-Banking Financial Company registered by Reserve Bank of India; (n) NISM means the National Institute of Securities Market established by the Board; (o) price target means expectations of research analyst on the future performance of specific securities; (p) proxy adviser means any person who provide advice, through any means, to institutional investor or shareholder of a company, in relation to exercise of their rights in the company including recommendations on public offer or voting recommendation on agenda items; (q) public appearance means any participation in a conference call, seminar, forum (including interactive ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sell/hold' recommendation; or iv. giving price target; or v. offering an opinion concerning public offer, with respect to securities that are listed or to be listed in a stock exchange, whether or not any such person has the job title of 'research analyst' and includes any other entities engaged in issuance of research report or research analysis. Explanation.-The term also includes any associated person who reports directly or indirectly to such a research analyst in connection with activities provided above; (v) research entity means an intermediary registered with Board who is also engaged in merchant banking or investment banking or brokerage services or underwriting services and issue research report or res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r that reflects a material change to, the subject company's earnings, operations or financial condition, other than unpublished price sensitive information, as specified in the internal policies and procedures of the research analyst or research entity; (z) subject company means the company whose securities are the subject of a research report or a public appearance; (za) stock exchange means a stock exchange recognised under section 4 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956); (zb) third party research report means a research report produced by a person or entity other than the research analyst or research entity. (2)The words and expressions used and not defined in these regulations but defined i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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