Definitions

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....y capital of the first person; 7[****] (iv) who is a holding company or a subsidiary company of the first person 8[****]; (v) who is a relative of the first person; (vi) who is a member of a Hindu Undivided Family wherein the first person is also a member; 9[(vii) such other cases where the Board is of the view that a person shall be considered as an associate based on the facts and factors including the extent of control, independence, conflict of interest;] (c) "Board" means the Securities and Exchange Board of India established under the provisions of section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); (d) "clearing corporation" means an entity that is established to undertake t....

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.... clearing corporation; 3[(ia) "national commodity derivatives exchange" means a commodity derivatives exchange that is demutualized, has an electronic trading platform and is permitted to assist, regulate or control the business of buying, selling or dealing in 12[commodity derivatives and option in securities with the prior approval of the Board].] (j) "netting" means the determination of net payment or delivery obligations among the clearing members of a recognised clearing corporation by setting off or adjustment of the inter se obligations or claims arising out of buying and selling of securities, discontinuation of business, dissolution, winding-up or insolvency or such other circumstances as may be specified in the bye-law....

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....ivatives exchange which is not a national commodity derivatives exchange.] (p) "regulatory department" means a department of a recognised stock exchange or a recognised clearing corporation which is entrusted with regulatory powers and duties and includes such department as may be specified by the Board; (q) "rules" means the Securities Contracts (Regulations) Rules, 1957; (r) "shareholder director" means a director who represents the interest of shareholders, and elected or nominated by such shareholders who are not trading members or clearing members, as the case may be, or their associates and agents; (s) "trading member" means a person having trading rights in any recognised stock exchange and....