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TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... st person; 7 [****] (iv) who is a holding company or a subsidiary company of the first person 8 [****] ; (v) who is a relative of the first person; (vi) who is a member of a Hindu Undivided Family wherein the first person is also a member; 9 [ (vii) such other cases where the Board is of the view that a person shall be considered as an associate based on the facts and factors including the extent of control, independence, conflict of interest; ] (c) Board means the Securities and Exchange Board of India established under the provisions of section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); (d) clearing corporation means an entity that is established to undertake the activity of clearing and settlement of trades i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ves exchange that is demutualized, has an electronic trading platform and is permitted to assist, regulate or control the business of buying, selling or dealing in 12 [ commodity derivatives and option in securities with the prior approval of the Board ].] (j) netting means the determination of net payment or delivery obligations among the clearing members of a recognised clearing corporation by setting off or adjustment of the inter se obligations or claims arising out of buying and selling of securities, discontinuation of business, dissolution, winding-up or insolvency or such other circumstances as may be specified in the bye-laws of the clearing corporation; (k) novation means the act of a clearing corporation interposing itself betwee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng corporation which is entrusted with regulatory powers and duties and includes such department as may be specified by the Board; (q) rules means the Securities Contracts (Regulations) Rules, 1957; (r) shareholder director means a director who represents the interest of shareholders, and elected or nominated by such shareholders who are not trading members or clearing members, as the case may be, or their associates and agents; (s) trading member means a person having trading rights in any recognised stock exchange and includes a stock broker. (2) Words and expressions used and not defined in these regulations but defined in the Act, the Companies Act, 1956, the Securities and Exchange Board of India Act, 1992, the Depositories Act, 1996 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany, or partner of the first person, as the case may be; 8. Omitted vide Notification No. SEBI/LAD/NRO/GN/2015-16/029 dated 11-01-2016 before it was read as or a company under the same management as of the first person 9. Inserted vide Notification No. SEBI/LAD/NRO/GN/2015-16/029 dated 11-01-2016 10 . Omitted vide Notification No. SEBI/LAD-NRO/GN/2017-18/003 dated 26-05-2017 before it was read as only 11 . Inserted vide Notification No. SEBI/LAD-NRO/GN/2017-18/003 dated 26-05-2017 12 . Substituted vide Notification No. SEBI/LAD-NRO/GN/2017-18/003 dated 26-05-2017 before it was read as derivatives on all commodities as notified by the Central Government from time to time - - statute, statutory provisions legislation, law, enactment, Acts ..... X X X X Extracts X X X X X X X X Extracts X X X X
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