Definitions

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....ature; and (ii) without prejudice to generality of sub-clause (i), includes- (A) amalgamation, demerger, consolidation or any other kind of corporate restructuring falling within the scope of section 391 of the Companies Act, 1956 (1 of 1956) or the corresponding provision of any other law for the time being in force; (B) change in its managing director or whole-time director; and (C) any change in control over the body corporate; (ad) "change in control", in relation to a portfolio manager being a body corporate, means:─ (i) if its shares are listed on any recognized stock exchange, change in control within the meaning of regulation 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares ....

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....IV; ^7[(ca) "portfolio" means the total holdings of securities ^15[and goods] belonging to any person; (cb) "portfolio manager" means any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities ^16[or goods] or the funds of the client, as the case may be;] ^17[Provided that the Portfolio Manager may also deal in goods received in delivery against physical settlement of commodity derivatives.] ^8[(d) "principal officer" means an employee of the portfolio manager who has been designated as such by the portfolio manager;] [(e)] ^9[* * *] ^18[....

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....9-2006. 7 Inserted by the SEBI (Portfolio Managers) (Second Amendment) Regulations, 2006, w.e.f. 07-09-2006. 8 Substituted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2006, w.e.f. 05-07-2006. Prior to substitution, clause (d) as substituted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2002, w.e.f. 11-10-2002 read as under: "(d) "principal officer" means a director of the portfolio manager, who is responsible for the activities of portfolio management and has been designated as principal officer by the portfolio manager;" 9 Omitted by the SEBI (Portfolio Managers) (Second Amendment) Regulations, 2006 w.e.f. 07-09-2006. Prior to omission, clause (e) read as under: "(e) "rules" means Securities and Exc....