Securities And Exchange Board Of India - Subsection
Section 2(1) in Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002
(1)In these regulations, unless the context otherwise requires: -(a)'Act' means the Securities and Exchange Board of India Act, 1992;(b)'associate' includes a person,(i)who directly or indirectly by himself or in combination with relatives, exercise control over the company; or,(ii)whose employee, officer or director is also a director, officer or employee of the company;(c)'Board' means the Board as defined in clause (a) of sub section (1) of section 2 of the Act;(d)'[control' shall include the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of their shareholding or management rights or shareholders or voting agreements or in any other manner;(e)'company' means a company as defined in Companies Act, 1956;(f)'director' means, a director as defined in sub-section (13) of section 2 of the Companies Act, 1956;(g)'employee' means,(i)a permanent employee of the company working in India or abroad; or(ii)a director of the company whether a whole time director or not;(h)'ESOS' means an Employee Stock Option Scheme as defined in Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999;(i)'insider' means an insider as defined in clause (e) of regulation 2 of Securities and Exchange Board of India (Insider Trading) Regulations, 1992;(j)'merchant banker' means a merchant banker registered under Section 12 of the Act;(k)'promoter' means promoter as defined in clause (h) of sub regulation (1) of regulation 2 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997;(l)'registrar' means a registrar to an issue and includes a share transfer agent registered under Section 12 of the Act;(m)'securities' means securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);(n)'statutory auditor' means an auditor appointed by a company under Section 224 of the Companies Act 1956 (1 of 1956);(o)'Recognised Stock Exchange' means a stock exchange which has been granted recognition under Section 4 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);(p)'sweat equity shares' means sweat equity shares as defined in Explanation II of sub section (1) of Section 79A of the Companies Act, 1956;(q)'Schedule' means a schedule to these regulations.(r)'valuer' means a Chartered Accountant or a merchant banker appointed to determine the value of the intellectual property rights or other value addition.
