Section 13 in Securities and Exchange Board of India (Registrars to an issue and Share Transfer Agents) Regulations, 1993
13. To abide by Code of Conduct.
- Every registrar to an issue and share transfer agent holding a certificate shall at all times abide by the Code of Conduct as specified in Schedule III.[13-A. Registrar to an issue not to act as such for an associate.- [Inserted by S.O. 660(E), dated 17.9.1997]No registrar to an issue shall act as such registrar for any issue of securities in case he or it is associate of the corporate issuing the securities.Explanantion. - For the purpose of this regulation, a registrar to an issue or the body corporate, as the case may be shall be deemed to be an associate of the other where:-(a)he or it controls directly or indirectly not less than 10 per cent of the voting power of the body corporate or the registrar to an issue, as the case may be; or(b)he or any of his relative is a director [or promoter] of the body corporate or of the Registrar to an issue, as the case may be.The term `relative' shall have the same meaning as is assigned to it under Section 6 of the Companies Act, 1956].
