AI Drafter 
TaxTMI 
TaxTMI 
Definitions
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.... with the Board for the purpose of conducting technical or financial appraisal of the ^1[collective investment scheme]; (d) "associate" in relation to a collective investment management company or trustee, includes a person: (i) who, directly or indirectly, by himself, or in combination with other persons, exercises control over the Collective Investment Management Company or the trustee, as the case may be, or (ii) in respect of whom the Collective Investment Management Company or the trustee, as the case may be directly or indirectly, by itself, or in combination with other persons, exercises control, or (iii) whose director, officer or employee is a director, officer or employee of the Collective Inves....
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....ganise, operate and manage a collective investment scheme; (i) "collective investment scheme" has the meaning assigned to it by sub-regulation (2) of this regulation; (j) "closed-ended ^2[collective investment scheme]" means any ^3[collective investment scheme] launched by a Collective Investment Management Company, in which the period of maturity of the ^4[collective investment scheme] is specified and there is no provision for re-purchase before the expiry of the maturity of the ^5[collective investment scheme]; (k)"control" or "controlling interest" means control exercised or controlling interest held : ^16[(i) in the case of a company, by any person individually or together with persons acting in conc....
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.... capital and free reserves (excluding funds created out of revaluation), reduced by the aggregate value of accumulated losses and deferred expenditure not written off, including miscellaneous expenses not written off; (t) "offer document" means any document by which applications for subscribing to units of the ^6[collective investment scheme] are invited from the public; (u)"regulation" means a regulation forming part of these regulations; ^20[(v) "relative" means a person as defined in section 2(77) of the Companies Act, 2013 (18 of 2013).] (w) "registrars to an issue and share transfer agent" means a person registered as Registrars to an Issue and Share Transfer Agents under the Securities and Exchange ....
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....unit in a ^11[collective investment scheme]. ^12[(2) In these regulations the expression 'collective investment scheme' shall have the same meaning as assigned to it under section 11AA of the Act.] ^22[(3) The words and expressions used and not defined in these regulations but defined in the Act, the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Companies Act, 2013 (18 of 2013), the Depositories Act, 1996 (22 of 1996), or any rules or regulations made thereunder shall have the same meanings respectively assigned to them in those acts, rules or regulations made thereunder or any statutory modification or re-enactment thereto, as the case may be.] ************* NOTES:- 1 Substituted by the....
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.... or not such properties or subscriptions and the investments made thereof are evidenced by identifiable properties or otherwise; Provided that following shall not be deemed to be a collective investment scheme: (a) acceptance of deposits by companies under section 58A of the Companies Act, 1956 (1 of 1956) or by Non-Banking Financial Companies as defined in section 45-I of the Reserve Bank of India Act, 1934 ( 2 of 1934 ); b) acceptance of funds by Chit Funds in terms of the Chit Funds Act, 1982 (40 of 1982); (c) acceptance of funds by companies declared as Nidhi companies under section 620A of the Companies Act, 1956, ( 1 of 1956 ), as per directions issued under, section 637A of the said Act; (d) contracts of insurance unde....
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....directly or indirectly, own, control or hold shares carrying not less than 10% of the voting rights of each of the two companies; or" 17. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/84 dated 10-05-2022 18. Omitted vide Notification No. SEBI/LAD-NRO/GN/2022/84 dated 10-05-2022 before it was read as, "(n)"economic offence" means an offence to which the Economic Offences (Limitation of Prosecutions) Act, 1974 (12 of 1974) applies for the time being;" 19. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/84 dated 10-05-2022 before it was read as, "(p)"fraud", has the same meaning as is assigned to it in section 17 of the Indian Contract Act, 1872 (9....