Section 4 in SECURITIES AND EXCHANGE BOARD OF INDIA (CHANGE IN CONTROL IN INTERMEDIARIES) (AMENDMENT) REGULATIONS, 2023
4. In the Securities and Exchange Board of India (Merchant Bankers )Regulations ,1992 ,the clause (ad) in sub regulation (1)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 ;(ii)in a case other than that of a body corporate , shall be construed as any change in its legal formation or ownership or change in controlling interest .(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 (Debenture Trustees )Regulations ,1993 .
