Section 19(7)(b) in The Foreign Exchange Regulation Act, 1973

[Cites 0, Cited by 0] [Section 19(7)] [Section 19] [Entire Act]

Union of India - Subsection

Section 19(7)(b) in The Foreign Exchange Regulation Act, 1973

(b)"nominee" means a holder of any security (including a bearer security) or any coupon representing dividends or interest who, as respects the exercise of any rights in respect of the security or coupon, is not entitled to exercise those rights except in accordance with the instructions given by some other person, and a person holding a security, or coupon as a nominee shall be deemed to act as nominee for the person who is entitled to give instructions either directly or through the agency of one or more persons, as to the exercise by the holder of the security or coupon of any rights in respect thereof and is not, in so doing, himself under a duty to comply with instructions given by some other person.

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Union of India - Subsection

Section 19(7)(b) in The Foreign Exchange Regulation Act, 1973