TaxTMI 
TaxTMI 
Definitions
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.... 11 of the Act; (B) if its shares are not listed on any recognised stock exchange, shall be construed with reference to the definition of control as provided in sub-section (27) of Section 2 of the Companies Act, 2013 (18 of 2013); (ii) in a case other than that of a body corporate, shall be construed as any change in its legal formation or ownership or change in controlling interest. Explanation - For the purpose of sub-clause (ii), the expression "controlling interest" means an interest, direct or indirect, to the extent of not less than fifty percent of voting rights or interest;] ^5[(ad) "clearing corporation" shall mean a clearing corporation as defined in clause (d) of sub-regulation (1) of regulati....
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....n) Act" means Securities Contract (Regulation) Act, 1956 (42 of 1956) ^10[(fa) "self-clearing member" means a member of a clearing corporation who is also a stock broker and clears and settles trades on its own account or on account of its clients only and includes any person having clearing and settlement rights on a commodity derivatives exchange: Provided that such person who clears and settles trades in commodity derivatives, shall be required to become a member of a recognised clearing corporation, from such date as may be specified by the Board.] (g) "small investor" means any investor buying or selling securities on a cash transaction for a market value not exceeding rupees fifty thousand in aggregate on an....
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....ent thereto, as the case may be.] ************* NOTES:- 1 Renumbered as 2(1) by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2013 w.e.f. 27.09.2013 2 Inserted by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2006, w.e.f. 07-09-2006. 3 Omitted by the SEBI(Change in Conditions of Registration of Certain Intermediaries)(Amendment) Regulations,2011, w.e.f. 19-04-2011. Prior to omission, clause (ab) read as under: "change of status or constitution" in relation to a stock broker or a sub-broker means any change in its status or constitution of whatsoever nature and includes- (i) in case of a body corporate- (A) amalgamation, demerger, consolidation....
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.... indirect, to the extent of at least fifty-one per cent of voting rights in the body corporate;" 5 Substituted by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2013.w.e.f 27-09-2013 Prior to substitution clause (ad) read as: "clearing corporation or clearing house" means the clearing corporation or clearing house of a recognised stock exchange to clear and settle trades in securities; 6 Substituted by the SEBI (Stock Brokers and Sub-brokers) (Amendment) Regulations, 2015 w.e.f 28-09-2015. Earlier clause (ae) was substituted by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2013.w.e.f 27-09-2013. Prior to the substitution, clause (ae) read as: "clearing member" shall mean a clear....
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.... 12 Substituted by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2013 w.e.f. 27-09-2013. Prior to substitution clause (gb) read as: (gb) "stock broker" means a member of a stock exchange; 13 Omitted by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations,2013 w.e.f 27-09-2013 14 Omitted by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations,2013 w.e.f 27-09-2013 15 Inserted by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations,2013 w.e.f 27-09-2013 16. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/14 dated 30-03-2021 before it was read as "Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporat....