Definitions of associate and control clarify regulatory scope for recognised exchanges and clearing and settlement entities. Definitions set the regulatory perimeter for recognised exchanges and clearing corporations by defining relationships and roles. Associate is broadly defined to include controllers, significant voting stakeholders, holding/subsidiary companies, relatives and HUF members, with control tied to takeover-regulation meaning. Market infrastructure terms-clearing corporation, clearing member, trading member, netting, novation, debt securities, repo and reverse repo-are specified to align clearing, settlement and product scope. Key management personnel, governing board, regulatory department, financial year and quarter are defined to identify governance and supervisory responsibilities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Definitions of associate and control clarify regulatory scope for recognised exchanges and clearing and settlement entities.
Definitions set the regulatory perimeter for recognised exchanges and clearing corporations by defining relationships and roles. Associate is broadly defined to include controllers, significant voting stakeholders, holding/subsidiary companies, relatives and HUF members, with control tied to takeover-regulation meaning. Market infrastructure terms-clearing corporation, clearing member, trading member, netting, novation, debt securities, repo and reverse repo-are specified to align clearing, settlement and product scope. Key management personnel, governing board, regulatory department, financial year and quarter are defined to identify governance and supervisory responsibilities.
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