Section 7 in SECURITIES AND EXCHANGE BOARD OF INDIA (CHANGE IN CONTROL IN INTERMEDIARIES) (AMENDMENT) REGULATIONS, 2023
7. In the Securities and Exchange Board of India (Bankers to an Issue ) Regulations , 1994 ,the clause (ae) of regulation 2,shall be substituted as under ,namely ,- " Change in control " in case of a body corporate –
(A)if its shares are listed on any recognised stock exchange , shall be construed with reference to the definition of control in terms of regulations framed under clause (h) of sub -section (2) of section 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 );Amendment to the Securities and Exchange Board of India (Custodian ) Regulations ,1996 .
