Small company definition tightened to require both statutory thresholds, and financial firms exempted for ordinary securities acquisitions. The Order amends clause (85) of section 2 to require that both thresholds for classification as a small company be satisfied, replacing the prior disjunctive wording. It further inserts an item in section 186(11)(b) explicitly exempting acquisitions of securities made 'in the ordinary course of business' by banking companies, insurance companies, and housing finance companies, thereby clarifying their entitlement to the statutory exemption.
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Provisions expressly mentioned in the judgment/order text.
Small company definition tightened to require both statutory thresholds, and financial firms exempted for ordinary securities acquisitions.
The Order amends clause (85) of section 2 to require that both thresholds for classification as a small company be satisfied, replacing the prior disjunctive wording. It further inserts an item in section 186(11)(b) explicitly exempting acquisitions of securities made "in the ordinary course of business" by banking companies, insurance companies, and housing finance companies, thereby clarifying their entitlement to the statutory exemption.
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