TaxTMI 
TaxTMI 
Prior approval for change in control: Transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in control
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....isers All Registered Research Analysts All KYC (Know Your Client) Registration Agencies BSE Limited (Administration and supervisory body for Investment Advisers and Research Analysts- IAASB/RAASB) Sir / Madam, Sub: Prior approval for change in control: Transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in control ....
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....d Takeovers) Regulations, 2011 which inter-alia includes any spouse of that person, or any parent, brother, sister or child of the person or of the spouse; b) Transfer of shareholding by way of transmission to immediate relative or not, shall not result into change in control. 2. Transfer /transmission of shareholding in case of a proprietary firm type intermediary: In case of....
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....gistered entity is registered as a partnership firm with more than two partners, then inter-se transfer amongst the partners shall not be construed to be change in control. Where the partnership firm consists of two partners only, the same would stand as dissolved upon the death of one of the partners. However, if a new partner is inducted in the firm, then the same would be considered as a change....
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....hedule II of SEBI (Intermediaries) Regulations, 2008. 5. The provisions of this circular shall be applicable with immediate effect. 6. IAASB and RAASB is directed to: a) bring the provisions of this circular to the notice of the IAs and RAs respectively and also disseminate the same on its website; b) make necessary amendments to the relevant Bye-laws, Guidelines, Standard ....