Regulation 2 - Definitions - Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011

Definitions 2. (1) In these regulations, unless the context otherwise requires, the terms defined herein shall bear the meanings assigned to them below - (a) Act means the Securities and Exchange Board of India Act, 1992 (15 of 1992); (b) Board means the Securities and Exchange Board of India established under section 3 of the Act; (c) Certificate means a certificate of registration granted by the Board under these regulations; (d) Client means a person seeking to do/has done his KYC through intermediary with KRA; 6 [ (da) Change in control 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); ] (e) Inspecting authority means any one or more person appointed by the Board to exercise powers conferred under chapter IV; (f) Intermediary means an entity associated with securities market and registered under sub-section (1A), (1B) and (1) of Section 12 of the Act; who is required to do KYC of its clients; (g) Intermediaries Regulations means Securities and Exchange Board of India (Intermediaries) Regulations, 2008; (h) KYC Registration Agency (KRA) is a company formed and registered under the 2 [ Companies Act, 2013 (18 of 2013) ] and which has been granted a certificate of registration under these regulations which hereinafter shall be deemed to be an intermediary in terms of the provisions of the Act; (i) KYC means the procedure 3 [ specified ] by the Board for identifying and verifying the Proof of Address, Proof of Identity and compliance with rules, regulations, guidelines and circulars issued by the Board or any other authority for Prevention of Money Laundering from time to time; (j) Operating Instructions means operating instructions made by a KRA under Regulation 15; 4 [ **** ] 5 [ (2) All other words and expressions used but not defined in these regulations shall have the same meaning as have been assigned to them under the Act or the Securities Contracts (Regulation) Act, 1956 (42 of 1956), or the Depositories Act, 1996 (22 of 1996), or the Companies Act, 2013 (18 of 2013), or Prevention of Money Laundering Act, 2002 (15 of 2003) or any rules or regulations made thereunder or any statutory modification or re-enactment thereto, as the case may be. ] ************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/72 dated 28-01-2022 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/72 dated 28-01-2022 before it was read as Companies Act, 1956 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/72 dated 28-01-2022 before it was read as prescribed 4. Omitted vide Notification No. SEBI/LAD-NRO/GN/2022/72 dated 28-01-2022 before it was read as (k) Rules means Prevention of Money Laundering Rules, 2005; (l) Prescribed means prescribed by a general or special order or circular issued under the Act or these regulations. 5. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/72 dated 28-01-2022 before it was read as (2) All other words and expressions used but not defined in these regulations shall have the same meaning as have been assigned to them under the Act or the Securities Contracts (Regulation) Act, 1956, (42 of 1956) or the Companies Act, 1956 (1 of 1956), or Prevention of Money Laundering Act (PML), 2005 or the PML Rules, 2005 or any statutory modification or reenactment thereto, as the case may be. 6. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/115 dated 17-01-2023 before it was read as, 1 [ (da) change in control , in relation to a KRA, means: ─ (i) if its shares are listed on any recognised stock exchange, change in control within the meaning of regulations framed under clause (h) of sub-section (2) of section 11 of the Act; (ii) in any other case, change in the controlling interest; Explanation . ─ For the purpose of sub-clause (ii), the expression controlling interest means, (A) an interest, whether direct or indirect, to the extent of at least fifty-one percent of voting rights; or (B) right to appoint majority of the directors or to control the management directly or indirectly; ]