Change in control: family transfers and succession treated variably; prior approval and fit and proper checks govern new controllers. Transfers among immediate relatives and transmissions of shareholding in unlisted corporate intermediaries do not constitute change in control; proprietary firm transfers or transmissions that alter legal formation or ownership do constitute change in control requiring prior approval and fresh registration; partnership firms permit inter se transfers among multiple partners without change in control, but induction of a new partner or alteration on death without deed provisions may constitute change in control. Incoming controlling persons must satisfy fit and proper person criteria under SEBI intermediary regulations.