Regulation 2 - Definitions - Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994

Extract

Definitions. 2. In these regulations, unless the context otherwise requires,- 1 [(a) Act means the Securities and Exchange Board of India Act, 1992 (15 of 1992); 9 [ (aa) banker to an issue means a scheduled bank or such other banking company as may be specified by the Board from time to time, carrying on any of the activities, including :- (i) acceptance of application and application monies; (ii) acceptance of allotment or call monies; (iii) refund of application monies; (iv) payment of dividend or interest warrants; ] 13 [ (v) providing escrow services for the purposes of issue management, buyback, delisting, or open offer, as required under the relevant regulations made by the Board; (vi) opening of a separate bank account for depositing the proceeds in the initial public offer/ further public offer; and (vii) such other activities as may be specified by the Board. ] (ab) body corporate shall have the meaning assigned to it in or under 10 [ clause (11) of section 2 of the Companies Act, 2013 (18 of 2013) ] ; (ac) certificate means a certificate of 2 [***] registration issued by the Board; (ad) 3 [***] 12 [ (ae) 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); ] 4 [***] (b) form means a form specified in Schedule I; (c) inspecting authority means one or more persons appointed by the Reserve Bank of India to exercise powers conferred under Chapter IV; 5 [(ca) issue means an offer of sale or purchase of securities by any body corporate or by any other person or group of persons on his or its or their behalf, as the case may be, to or from the public, or the holders of securities of such body corporate or person or group of persons;] (d) Reserve Bank means the Reserve Bank of India established under section 3 of the Reserve Bank of India Act, 1934; 6 [(e) scheduled bank means a bank included in the Second Schedule of the Reserve Bank of India Act, 1934 (2 of 1934);] (f) words and expressions used and not defined in these regulations but defined in the Act 7 [***] shall have the meanings respectively assigned to them in the Act 8 [***]. ************** NOTES:- 1 Inserted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2006, w.e.f, 7-9-2006. 2 The words initial or permanent was omitted by the Securities and Exchange Board of India (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations, 2016 w.e.f. 08-12-2016. Prior to this the words initial or permanent were inserted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2011, w.e.f. 05-07-2011. 3 Omitted by Securities and Exchange Board of India (Change in conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2011. Prior to the omission clause (a) read as under: (ad) change of status or constitution in relation to a banker to an issue- (i) means any change in its status or constitution of whatsoever nature; and (ii) without prejudice to generality of sub-clause (i), includes- (A) amalgamation, demerger, consolidation or any other kind of corporate restructuring falling within the scope of section 391 of the Companies Act, 1956 (1 of 1956) or the corresponding provision of any other law for the time being in force; (B) change in its managing director or whole time director; and (C) any change in control over the body corporate; 4 Clause (a) omitted by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e.f. 27-09-2002. Prior to the omission clause (a) read as under: a. enquiry officer means any officer of the Board, or any other person, having experience in dealing with the problems relating to securities market, who is authorized by the Board under Chapter V; 5 Inserted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2006, w.e.f, 7-9-2006. 6 Substituted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2006, w.e.f, 7-9-2006. Prior to its substitution, clause (e) read as under: (e) rules means Securities and Exchange Board of India (Bankers to an Issue) Rules, 1994; 7 Words and the rules were omitted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2006, w.e.f, 7-9-2006. 8 Words or the rules, as the case may be were omitted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2006, w.e.f, 7-9-2006. 9. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/26 dated 30-07-2021 before it was read as (aa) banker to an issue means a scheduled bank carrying on all or any of the following activities, namely :- (i) acceptance of application and application monies; (ii) acceptance of allotment or call monies; (iii) refund of application monies; (iv) payment of dividend or interest warrants; 10. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/26 dated 30-07-2021 before it was read as clause (7) of section 2 of the Companies Act, 1956 (1 of 1956) 11. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/26 dated 30-07-2021 before it was read as regulation 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 12. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/115 dated 17-01-2023 before it was read as, (ae) change in control , in relation to a banker to an issue being a body corporate, means :- (i) if its shares are listed on any recognised stock exchange, change in control within the meaning of 11 [ 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 in the body corporate. Explanation.-For the purpose of sub-clause (ii), the expression controlling interest means an interest, whether direct or indirect, to the extent of at least fifty-one per cent of voting rights in the body corporate;] 13. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/211 dated 20-11-2024

SEBI/LAD-NRO/GN/2024/211 - Dated: 20-11-2024 - SEBI - Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2024.
SEBI/LAD-NRO/GN/2023/115 - Dated: 17-1-2023 - SEBI - Securities and Exchange Board of India (Change in Control in Intermediaries) (Amendment) Regulations, 2023
SEBI/LAD-NRO/GN/2021/26 - Dated: 30-7-2021 - SEBI - Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2021.
SEBI/LAD-NRO/GN/2016-17/023 - Dated: 8-12-2016 - SEBI - Securities and Exchange Board of India (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2016
LAD-NRO/GN/2011-12/12/21225 - Dated: 5-7-2011 - SEBI - Securities And Exchange Board Of India (Bankers To An Issue) (Amendment) Regulations, 2011
LAD/NRO/GN/2011-12/03/12650 - Dated: 13-4-2011 - SEBI - Securities And Exchange Board Of India (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations, 2011
S.O. No.1453(E) - SEBI/LAD/DOP/0709/2006 - Dated: 7-9-2006 - SEBI - Securities And Exchange Board Of India (Bankers To An Issue) (Amendment) Regulations, 2006.