Regulation 2 - Definitions - Securities and Exchange Board of India (Custodian) Regulations, 1996

Definitions. 2. In these regulations unless the context otherwise requires:- (a) Act means the Securities and Exchange Board of India Act, 1992 (15 of 1992); (b) certificate means a certificate of registration granted by the Board under these regulations; 17 [ (ba) 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); ] (c) client means any person who has entered into an agreement with a 4 [ custodian ] to avail of custodial services provided by the 4 [ custodian ] ; (d) 4 [ custodian ] means any person who carries on or proposes to carry on the business of providing custodial services; 1 [(e) custodial services in relation to securities 5 [ or goods ] of a client or gold or gold related instruments 14 [ or silver or silver related instruments ] held by a mutual fund or title deeds of real estate assets held by a real estate mutual fund scheme in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 means, 6 [ the ] safekeeping of such securities 7 [ or goods ] or gold or gold related instruments 15 [ or silver or silver related instruments ] or title deeds of real estate assets and providing services incidental thereto, and includes- (i) maintaining accounts of securities 8 [ or goods ] or gold or gold related instruments 16 [ or silver or silver related instruments ] or title deeds of real estate assets of a client; 2 [(ia) undertaking activities as a Domestic Depository in terms of the Companies (Issue of Indian Depository Receipts) Rules, 2004;] (ii) collecting the benefits or rights accruing to the client in respect of securities 9 [ or goods ] or gold or gold related instruments 16 [ or silver or silver related instruments ] or title deeds of real estate assets; (iii) keeping the client informed of the actions taken or to be taken by the issuer of securities, having a bearing on the benefits or rights accruing to the client; and 10 [ (iiia) keeping the client informed of the actions taken or to be taken with respect to the goods held on its behalf; ] (iv) maintaining and reconciling records of the services referred to in sub clauses (i) to 11 [ (iiia) ] ;] (f) custody account means an account of a client maintained by a 4 [ custodian ] in respect of securities; (g) 3 [* * *] (h) Form means any of the forms set out in the First Schedule; 12 [ (ha) goods means the goods notified by the Central Government under clause (bc) of section 2 of the Securities contracts (Regulation) Act, 1956 and forming the underlying of any commodity derivative contract; ] (i) inspecting officer means an inspecting officer appointed by the Board under regulation 21; (j) Schedule means a Schedule annexed to these regulations. 13 [ (k) securities shall have the meaning assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956. ] ************* NOTES:- 1 Substituted by the SEBI (Custodian of Securities) (Amendment) Regulations, 2008, w.e.f. 4-7- 2008. Prior to substitution, clause (e), as amended by SEBI (Custodian of Securities) (Amendment) Regulations, 2006, w.e.f. 12-1- 2006, read as under: (e) custodial services in relation to securities of a client or gold or gold related instruments held by a mutual fund or title deeds of real estate assets held by a real estate mutual fund in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 means, safe keeping of such securities or gold or gold related instruments and providing services incidental thereto, and includes- (i) maintaining accounts of securities or gold or gold related instruments of a client; (ii) collecting the benefits or rights accruing to the client in respect of securities or gold or gold related instruments; (iii) keeping the client informed of the actions taken or to be taken by the issuer of securities, having a bearing on the benefits or rights accruing to the client; and (iv) maintaining and reconciling records of the services referred to in sub-clause (i) to (iii); Prior to this amendment, clause (e) read as under: (e) custodial services in relation to securities means, safe keeping of securities of a client and providing services incidental thereto, and includes- (i) maintaining accounts of securities of a client; (ii) collecting the benefits or rights accruing to the client in respect of securities; (iii) keeping the client informed of the actions taken or to be taken by the issuer of securities, having a bearing on the benefits or rights accruing to the client; and (v) maintaining and reconciling records of the services referred to in sub-clause (i) to (iii); 2 Inserted by the SEBI (Facilitation of Issuance of Indian Depository Receipts) (Amendment) Regulations, 2009 with effect from 19-6-2009. 3 Omitted by the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e.f. 27-9-2002. Prior to its omission, clause (g) read as under, (g) enquiry officer means an enquiry officer appointed by the Board, under regulation 29; 4. Substituted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 before it was read as custodian of securities 5. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 6. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 7. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 8. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 9. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 10. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 11. Substituted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 before it was read as (iii) 12. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 13. Inserted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 14. Inserted vide F. No. SEBI/LAD-NRO/GN/2022/81 dated 25-04-2022 15. Inserted vide F. No. SEBI/LAD-NRO/GN/2022/81 dated 25-04-2022 16. Inserted vide F. No. SEBI/LAD-NRO/GN/2022/81 dated 25-04-2022 17. Inserted vide Notification No. SEBI/LAD-NRO/GN/2023/115 dated 17-01-2023