TMI BlogDefinitions.X X X X Extracts X X X X X X X X Extracts X X X X ..... signed to it under clause (ab) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012; ] 1 [ 9 [ (ac) ] assets under advice shall mean the aggregate net asset value of securities and investment products for which the investment adviser has rendered investment advice irrespective of whether the implementation services are provided by investment adviser or concluded by the client directly or through other service providers; ] (b) Board means the Securities and Exchange Board of India established under section 3 of the Act; (c) body corporate shall have the meaning assigned to it in or 2 [ under sub-section (11) of section 2 of the Companies Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de individual client, dependent spouse, dependent children and dependent parents; (gc) family of an individual investment adviser shall include individual investment adviser, spouse, children and parents; ] (h) financial planning shall include analysis of clients current financial situation, identification of their financial goals, and developing and recommending financial strategies to realise such goals; (i) firm means a partnership firm registered under Indian Partnership Act, 1932 (9 of 1932); (j) form means any of the forms set out in the First Schedule; (k) inspecting authority means any one or more persons appointed by the Board to exercise powers conferred under regulation 23; (l) investment advice me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith investment advice shall mean any member, partner, officer, director or employee or any sales staff of such investment adviser including any person occupying a similar status or performing a similar function irrespective of the nature of association with the investment adviser who is engaged in providing investment advisory services to the clients of the investment adviser; Explanation. - All client-facing persons such as sales staff, service relationship managers, client relationship managers, etc., by whatever name called shall be deemed to be persons associated with investment advice, but do not include persons who discharge clerical or office administrative functions where there is no client interface. ] 7 [ (s) princip ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... viser. 7. Inserted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 8. Substituted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 before it was read as Companies Act, 1956 (1 of 1956) 9. Re-Numbered vide Notification No. SEBI/LAD-NRO/GN/2021/34 dated 03-08-2021 before it was read as (aa) 10. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/34 dated 03-08-2021 11. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/115 dated 17-01-2023 before it was read as, (e) change in control in relation to a company or a body corporate, means: (i) if its shares are listed on any recognized stock exchange, change in control within the meaning of clause (e) of sub-regulation (1) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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