TaxTMI 
TaxTMI 
Definitions
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.... at least twenty per cent. of the total voting rights of the first person; (iii) who is a holding company or a subsidiary company of the first person; (iv) who is a relative of the first person; (v) who is a member of a Hindu Undivided Family wherein the first person is also a member; (vi) such other cases where the Authority 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 and conflict of interest. (c) "Authority" means the International Financial Services Centres Authority established under sub- section (1) of section 4 of the Act; (d) "beneficial owner", in relation to a bullion depository rec....
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....and listed on a bullion exchange. k) "bullion exchange" means an entity which has been granted recognition by the Authority for the purpose of assisting, regulating or controlling the business of buying, selling and dealing of bullion depository receipts and derivative contracts on bullion in an International Financial Services Centre; (l) "bullion market" includes the bullion exchanges, bullion clearing corporations, bullion depositories, vaults, bullion contracts dealt therein, and any other entities connected thereto; (m) "bullion trading member" means an entity having trading rights in a bullion exchange; (n) "consumer" or "client" means a constituent of a bullion trading member and includes special c....
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....al Action Task Force to address the deficiencies; (r) "good delivery standard" means the quality or standard of bullion as notified by the Authority or any other entity as may be specified by the Authority or the bullion exchange; (s) "governing board" means the board of directors of a bullion exchange or a bullion clearing corporation or a bullion depository; (t) "key management personnel", in relation to a bullion exchange, bullion clearing corporation or bullion depository, shall mean and include: (i) a person appointed as the managing director or executive director; (ii) a person serving as the head of a department or vertical and directly reporting to the managing director or to the director....
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....ing statutory funds, benefit funds and reserves created out of revaluation) reduced by the investments in businesses, whether related or unrelated, aggregate value of accumulated losses and deferred expenditure not written off, including miscellaneous expenses not written off; (w) "non-independent director" means a director elected or nominated by the shareholders who is neither a bullion trading member nor bullion clearing member, as the case may be, or their associates or agents; (x) "novation" means the act of bullion clearing corporation interposing itself between the parties of every trade, as a legal counterparty; (y) "participant" means a bullion depository participant registered as such under these regulat....