MANU/SREG/0021/2012

Ministry : Securities and Exchange Board of India

Department/Board : Legal Affairs Department

Notification No. : LAD-NRO/GN/2012-13/07/13546

Date : 20.06.2012

Referred IN

Securities Contracts (Regulation) (Stock Exchanges And Clearing Corporations) Regulations, 2012

In exercise of the powers conferred by sections 4, 8A and 31 of the Securities Contracts (Regulation) Act, 1956, read with sections 11 and 30 of the Securities and Exchange Board of India Act, 1992, the Securities and Exchange Board of India hereby makes the following regulations to regulate recognition, ownership and governance in stock exchanges and clearing corporations and matters connected therewith or incidental thereto, namely:-

CHAPTER I

PRELIMINARY

1. Short title and commencement.--

(1) These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012.

(2) They shall come into force on the date of their notification in the Gazette of India.

2. Definitions.--

(1) In these regulations, unless the context otherwise requires, the terms defined herein shall bear the meanings assigned to them below, and their cognate expressions shall be construed accordingly,-

(a) "Act" means the Securities Contracts (Regulation) Act, 1956 (42 of 1956);

(b) "associate" in relation to a person shall include another person:

(i) who, directly or indirectly, by himself, or in combination with other persons, exercises control over the first person;

(ii) who holds fifteen per cent. or more shares in the paid up equity capital of the first person;