Section 2 in Securities and Exchange Board of India (Debenture Trustees) Rules, 1993
2. Definitions.
- In these regulations, unless the context otherwise requires,-(a)[ "Act" means the Securities and Exchange Board of India Act, 1992 (15 of 1992)] [Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f., 7-9-2006.](aa)[ "associate" in relation to a debenture trustee, or body corporate shall include a person,- [Inserted by the SEBI (Debenture Trustees) (Second Amendment) Regulations, 2000,w.e.f., 8-8-2000.](i)who, directly or indirectly, by himself, or in combination with relatives, exercises control over the debenture trustee or the body corporate, as the case may be, or(ii)in respect of whom the debenture trustee or the body corporate, as the case may be, directly or indirectly, by itself, or in combination with other persons, exercises control, or(iii)whose director, is also a director, of the debenture trustee or the body corporate, as the case may be.Explanation. - For the purpose of this regulation, the expression "control" shall have the same meaning as defined under clause (c) of Regulation 2 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997;](ab)[ "body corporate" shall have the meaning assigned to it in or under clause (7) of section 2 of the Companies Act, 1956 (1 of 1956); [Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f. 7-9-2006.](ac)"certificate" means a certificate of [initial or permanent registration granted] by the Board under these regulations;(ad)[***] [Omitted by the SEBI(Change in conditions of Registration of Certain Intermediaries)(Amendment) Regulations, 2011, w.e.f. from 13-4-2011.](ae)"change in control", in relation to a debenture trustee, means : -(i)if its shares are listed on any recognised stock exchange, change in control within the meaning of regulation 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997;(ii)in any other case, change in the controlling interest in the body corporate;Explanation. - For the purpose of sub-clause (ii), the expression "controlling interest" means an interest, whether direct or indirect, to the extent of at least fifty one per cent of voting rights in the body corporate;](b)[] [Clause (aa) renumbered as clause (b) by the SEBI (Debenture Trustee) (Amendment) Regulations, 2006, dated 7-9-2006. Earlier clause (a) renumbered as clause (aa) by the SEBI (Debenture Trustees) (Second Amendment) Regulations, 2000, w.e.f, 8-8-2000.] "Companies Act" means the Companies Act, 1956 (1 of 1956);(ba)[ "debenture" means a debenture within the meaning of sub-section (12) of section 2 of the Companies Act, 1956 (1 of 1956); [Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f. 7-9-2006.](bb)"debenture trustee" means a trustee of a trust deed for securing any issue of debentures of a body corporate;][***] [Omitted by the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e.f. 27-09-2006.](c)"Form" means Forms specified in Schedule I;(d)"Inspecting authority" means one or more persons appointed by the Board to exercise powers conferred under Chapter IV;(e)"insurance company" means a company as defined in clause (21) of section 2 of the Companies Act;(ea)[ "issue" means an offer of sale of securities by any body corporate or by any other person or group of persons on its or their behalf, as the case may be, to the public, or the holders of securities of such body corporate or person or group of persons and includes a private placement of debentures made by a listed company, which are proposed to be listed;] [Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f. 7-9-2006.](ee)[ "networth" means aggregate of value of the paid-up equity capital and free reserves (excluding reserves created out of revaluation) reduced by the aggregate value of accumulated losses and deferred expenditure not written off (including miscellaneous expenses not written off) as per the latest audited balance sheet;] [Inserted by the SEBI (Debenture Trustees)(Amendment) Regulations, 2003, w.e.f.4-7-2003.](f)"principal officer" means,-(i)a secretary, manager or director of the body corporate; or(ii)any person connected with the management or administration of the body corporate upon whom the Board has served notice of its intention of treating him as the principal officer thereof;(g)"regulations" means Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993;(h)[***] [Omitted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f. 7-9-2006.](i)"scheduled bank" means a scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934);(ia)[ "trust deed" means a deed executed by the body corporate in favour of the trustees named therein for the benefit of the debenture holders;] [Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f. 7-9-2006.](j)all other words and expressions used in these regulations but not defined, and defined in the Act [*] [Omitted 'and the rules' by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f. 7-9-2006, respectively.] shall have the meanings respectively assigned to them in the Act [*] [Omitted 'or the Rules, as the case may be' by the SEBI (Debenture Trustees) (Amendment) Regulations, 2006, w.e.f. 7-9-2006, respectively.].
