9911796707
TMI BlogPrior approval for change in control: Transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in controlX X X X Extracts X X X X X X X X Extracts X X X X ..... KYC (Know Your Client) Registration Agencies BSE Limited (Administration and supervisory body for Investment Advisers and Research Analysts- IAASB/RAASB) Sir / Madam, Sub: Prior approval for change in control: Transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in control In line with clarification provided for certain intermediaries vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r any parent, brother, sister or child of the person or of the spouse; b) Transfer of shareholding by way of transmission to immediate relative or not, shall not result into change in control. 2. Transfer /transmission of shareholding in case of a proprietary firm type intermediary: In case of an intermediary being a proprietary concern, the transfer or bequeathing of the business/capital by way o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... all not be construed to be change in control. Where the partnership firm consists of two partners only, the same would stand as dissolved upon the death of one of the partners. However, if a new partner is inducted in the firm, then the same would be considered as a change in control, requiring fresh registration and prior approval of SEBI. b) Transmission of ownership interest in case of partners ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ASB and RAASB is directed to: a) bring the provisions of this circular to the notice of the IAs and RAs respectively and also disseminate the same on its website; b) make necessary amendments to the relevant Bye-laws, Guidelines, Standard Operating Procedures, Rules and Regulations for the implementation of the above decision. 7. This circular is issued in exercise of powers conferred under sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
