TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... 4 [(ab)] 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) in any other case, shall be construed as change in the controlling interest in the body corporate; Explanation: For the purpose of para (B) of this sub-clause, the expression ― controlling interest means an interest, whether direct or indirect, to the extent of at least fifty-one percent of voting rights in the body corporate; (ii) in a case other than that of a body corporate, shall be construed as any change in its legal formation or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lict with his role; (ed) regulatory department means a department of a depository which is entrusted with regulatory powers and duties and includes such department as may be specified by the Board; (f) Schedule means any of the Schedules annexed to these regulations;] 9 10 (fa) shareholder director means a director who represents the interest of shareholders, and elected or nominated by such shareholders; (g) sponsor means any person or persons who, acting alone or in combination with another person proposes to establish a depository and undertakes to perform the obligations of a sponsor under these regulations. 11 [Explanation.-Any person who acting alone or in combination with others holds not less than 51 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry by Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e.f. 27-9-2002. 8 Inserted by the SEBI (Depositories and Participants) (Amendment) Regulations, 2012, w.e.f. 11-9-2012. 9 Inserted by the SEBI (Depositories and Participants) (Amendment) Regulations, 2012, w.e.f. 11-9-2012. 10 Inserted by the SEBI (Depositories and Participants) (Amendment) Regulations, 2012, w.e.f. 11-9-2012. 11 Inserted by the SEBI (Depositories and Participants) (Amendment) Regulations, 2000, w.e.f. 26-12-2000. 12 Substituted by the SEBI (Depositories and Participants) (Amendment) Regulations, 2012, w.e.f. 11-9-2012. Prior to substitution, it read as under: ― (2) Words and expressions used and not defined in these regulations but de ..... X X X X Extracts X X X X X X X X Extracts X X X X
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