Section 2(1)(e) in Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999

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Securities And Exchange Board Of India - Subsection

Section 2(1)(e) in Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999

(e)"certificate" means a certificate of [Initial or permanent registration granted] [Substituted 'registration granted or renewed' by Notification No. F.No. LAD-NRO/GN/2011-12/10/21232. dated 5.7.2011 (w.e.f. 7.7.1999).]by the Board under these regulations;

(ei)[ "change of status or constitution" in relation to a credit rating agency - [Inserted by Notification No. LAD-NRO/GN/2009-10/30/199044. dated 19.3.2010 (w.e.f. 7.7.1999).]

(i)means any change in its status or constitution of whatsoever nature; and

(A)amalgamation, demerger, consolidation or any other kind of corporate restructuring falling within the scope of Section 391 of the Companies Act, 1956 (1 of 1956) or the corresponding provision of any other law for the time being in force;

(B)change in its managing director or whole-time director; and

(C)any change in control over the body corporate;

(eii)"change in control", in relation to a credit rating agency being a body corporate, means : -

(i)if its shares are listed on any recognised stock exchange, change in control as defined under 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.

(ii)without prejudice to generality of sub-clause (i), includes -

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Securities And Exchange Board Of India - Subsection

Section 2(1)(e) in Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999