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<h1>Public shareholding requirements clarified for recognised stock exchanges, defining associate and shareholder having trading rights.</h1> Defines core terms for maintaining public shareholding in recognised stock exchanges: associate (broadly including control relationships, relatives, sub brokers and instruction followers), 'shareholder having trading rights' (direct or indirect trading interest with indirect interest equated to associate), offer for sale (sale of equity by such shareholders), and private placement (preferential/private issue excluding shareholders with trading rights and their associates). Cross references assign meanings for Board, company, and control, and unspecified terms adopt definitions from relevant statutes, rules, regulations or the demutualisation scheme.