Section 2(1) in Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019
(1)In these rules, unless the context otherwise requires, -(a)"Act" means the Indian Stamp Act, 1899 (2 of 1899);(b)"buyer" means, -(i)the person purchasing securities; or(ii)the person buying the base currency (the first currency appearing in a currency pair quotation) in the forward leg; or(iii)the person paying the fixed rate in a fixed-floating swap instrument; or(iv)any one of the contracting persons in a floating-floating swap instrument; or(v)borrower of repo on corporate bonds;(c)"collecting agent" means a stock exchange or clearing corporation authorised by it or a depository which is empowered to collect stamp-duty on securities on behalf of the State Government in accordance with the provisions of the Act and these rules;(d)"domicile State" means: -(i)the State of the buyer as it appears in the "permanent address" in India on the settlement day, and in case the same is not available, as it appears in the "correspondence address" in India, as per the records of stock exchange or clearing corporation or depository ; or(ii)in case the State of buyer is not available in the "permanent address" or "correspondence address" in India, the State having the registered office of the member, through whom the trade or transfer was executed, and in case the same is not available, the State having the registered office of the participant or custodian through whom the trade was effected.(e)"first leg of the cash flow" in respect of a swap agreement means the notional or gross value of the contract for the buyer;(f)"market transfer" means transfer of securities effected towards the completion of a transaction carried out on the stock exchange or as reported to the stock exchange or clearing corporation on which either the stock exchange or clearing corporation collects the required stamp-duty;(g)"Member" means a trading member or broker of a stock exchange or a clearing member of a clearing corporation, who trades on behalf of his clients as well as for himself and shall include a trading-cum-clearing member or any person directly participating on the stock exchange as per the bye-laws of the stock exchange;(h)"off-market transfer" means transfer of securities other than a market transfer;(i)"participant" means a participant of a depository defined under clause (g) of sub-section (1) of section 2 of the Depositories Act, 1966 (22 of 1996);(j)"principal officer" means any officer appointed either by name or by designation, by a collecting agent for the purposes of the Act and these rules;(k)"seller" means the counter-party in a transaction with the buyer;(l)"settlement day" means the day on which, -(i)a transaction is settled by a stock exchange or an authorised clearing corporation, by completing the delivery of funds to the seller and delivery of underlying securities corresponding to those funds to the buyer; or(ii)it is reported to a stock exchange or a clearing corporation specifying that the transaction in securities has been carried out provided the security is not held in dematerialised form with any of the depositories; or(iii)an issue or transfer has been effected in a depository in respect of securities held in dematerialised form which may have to be later reported to the stock exchange or a clearing corporation.
