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[Cites 0, Cited by 0] [Section 2(2)] [Section 2] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 2(2)(z) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014

(z)"investment management agreement" means an agreement between the trustee and the investment manager which lays down the roles and responsibilities of the investment manager towards the InvIT;
(za)"InvIT" or 'Infrastructure Investment Trust' shall mean the trust registered as such under these regulations;
(i)has not achieved commercial operation date as defined under the relevant project agreements including the concession agreement, power purchase agreement or any other agreement of a similar nature entered into in relation to the operation of a project or any agreement entered into with the lenders; and
(ii)has,-
(zb)"InvIT assets" means assets owned by the InvIT, whether directly or through a [holdco and/or] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] SPV, and includes all rights, interests and benefits arising from and incidental to ownership of such assets;
(zc)"Lead member" means the lead member of the Concessionaire SPV for PPP projects as defined in the project documents;
(zd)"listed InvIT" means an InvIT whose units are listed on a recognized stock exchange;
(ze)"LLP" means a limited liability partnership as defined under the Limited Liability Partnership Act, 2008;
(zf)"investment manager" means a company or LLP or body corporate which manages assets and investments of the InvIT and undertakes activities of the InvIT as specified under regulation 10;
(zg)"NAV" or "net asset value" means the value of the InvIT [assets reduced by the external debt] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] divided by the number of outstanding units as on a particular date;
(zh)"net worth" in relation to a company or a body corporate shall have the meaning assigned to it under sub-section (57) of Section 2 of the Companies Act, 2013;.
(zi)"non-PPP project" means an infrastructure project that is not a PPP project;
(zj)"offer document" means any document described or issued as an offer document including any notice, circular, advertisement or other document inviting offers [through a public issue] [Substituted 'from the public' by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] for the subscription or purchase of units of the [***] [Omitted 'publicly offered' by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] InvIT and includes initial [public] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] offer document, follow-on offer document [, letter of offer in case of rights issue] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] and any other offer document as may be specified by the Board;
(zk)"parties to the InvIT" shall include the sponsor(s), investment manager, project manager [s] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] and the trustee;
(zl)"placement memorandum" means any document through which private placement of units of the InvIT is made;
(zm)"PPP project" means an infrastructure project undertaken on a Public- Private Partnership basis between a public concessioning authority and a private SPV concessionaire selected on the basis of open competitive bidding or on the basis of an MoU with the relevant authorities;
(zn)"pre-COD project" means an infrastructure project which,-