Section 2 in Securities And Exchange Board Of India (Venture Capital Funds) Regulations, 1996
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);(aa)["associate company", means a company in which a director or trustee or sponsor or settlor of the venture capital fund or asset management company holds either individually or collectively, equity shares in excess of 15 per cent of the paid-up equity share capital of venture capital undertaking;] [Inserted by S.O. 1179(E), dated 30.12.2000](b)"certificate" means a certificate of registration granted by the Board under regulation 7;(c)"company" means a company incorporated under the Companies Act, 1956 (1 of 1956);(d)"economic offence" means an offence to which the Economic Offences (Limitation of Prosecutions) Act, 1974 (12 of 1974), applies for the time being;(e)"enquiry officer" means an enquiry officer appointed by the Board under Regulation 33;(ee)["equity linked instruments" includes instruments convertible into equity shares or share warrants, preference shares, debentures compulsorily [or optionally] [Inserted by S.O. 831(E), dated 15.9.2000] convertible into equity;](f)"Form" means any of the forms set out in the First Schedule;(g)[* * *] [Omitted by the SEBI (Venture Capital Funds) Amendment Regulations, 2000, w.e.f. 15-09-2000](h)[ "inspecting or investigating officer" means an inspecting or investigating officer appointed by the Board under regulation 25;] [Substituted by S.O. 831(E), dated 15.9.2000](hh)["investible funds" means corpus of the fund net of expenditure for administration and management of the fund;] [Inserted by S.O. 831(E), dated 15.9.2000](i)"Schedule" means a Schedule annexed to these regulations;(j)[ "negative list" means a list of items specified in the Third Schedule;] [Substituted by S.O. 831(E), dated 15.9.2000](k)"trust" means a trust established under the Indian Trusts Act, 1882 (2 of 1882) [or under an Act of Parliament or State Legislation] [Inserted by S.O. 1118(E), dated 17.11.1999];(l)[ "unit" means beneficial interest of the investors in the scheme or fund floated by trust or [shares] [Substituted by S.O. 486(E), dated 5.4.2004] issued by a company including a body corporate;](m)"venture capital fund" means a fund established in the form of a trust or a company including a body corporate and registered under these regulation which-(i)has a dedicated pool of capital;(ii)raised in a manner specified in the regulations; and(iii)invests [* * *] [Omitted by S.O. 486(E), dated 5.4.2004] in accordance with the regulations;(n)[ "venture capital undertaking" means a domestic company- [Inserted by S.O. 831(E), dated 15.9.2000](i)whose shares are not listed on a recognized stock exchange in India;(ii)[ which is engaged in the business for providing services, production or manufacture of article or things or does not include such activities or sectors which are specified in the negative list by the Board with the approval of the Central Government by notification in the Official Gazette in this behalf.]]
