Definitions.
2. (1) In this Act, unless the context otherwise requires,—
(a) “Board” means the Securities and Exchange Board of India established under section 3;
(b) “Chairman” means the Chairman of the Board;
1[(ba) “collective investment scheme” means any scheme or arrangement which satisfies the conditions specified in section 11AA;]
(c) “existing Securities and Exchange Board” means the Securities and Exchange Board of India constituted under the Resolution of the Government of India in the Department of Economic Affairs No. 1(44) SE/86, dated the 12th day of April, 1988;
(d) “Fund” means the Fund constituted under section 14;
2[(da) Insurance Regulatory and Development Authority” means the Insurance Regulatory and Development Authority of India established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999;]
3[(db) Judicial Member” means a Member of the Securities Appellate Tribunal appointed under sub-section (1) of section 15MA and includes the Presiding Officer;]
(e) “member” means a member of the Board and includes the Chairman;
(f) “notification” means a notification published in the Official Gazette;
4[(fa) Pension Fund Regulatory and Development Authority” means the Pension Fund Regulatory and Development Authority established under subsection (1) of section 3 of the Pension Fund Regulatory and Development Authority Act, 2013;]
(g) “prescribed” means prescribed by rules made under this Act;
(h) “regulations” means the regulations made by the Board under this Act;
5[(ha) “Reserve Bank” means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934);]
(i) “securities” has the meaning assigned to it in section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);
6[(j) Technical Member” means a Technical Member appointed under sub-section (1) of section 15MB.]
7[(2) Words and expressions used and not defined in this Act but defined in the Securities Contracts (Regulation) Act, 1956 (42 of 1956) 8[or the Depositories Act, 1996], shall have the meanings respectively assigned to them in that Act].
Amendments : –
1 Inserted by the Securities Laws (Amendment) Act, 1999, w.e.f. 22-2-2000.
2 Inserted by Part VIII of Chapter VI of the Finance Act, 2017 vide Gazette Notification No. 7, Extraordinary Prt II Section 1 dated March 31, 2017. This shall come into force from April 26, 2017.
3 Inserted by Part VIII of Chapter VI of the Finance Act, 2017 vide Gazette Notification No. 7, Extraordinary Prt II Section 1 dated March 31, 2017. This shall come into force from April 26, 2017.
4 Inserted by Part VIII of Chapter VI of the Finance Act, 2017 vide Gazette Notification No. 7, Extraordinary Prt II Section 1 dated March 31, 2017. This shall come into force from April 26, 2017.
5 Inserted by the Securities Laws (Amendment) Act, 2002, w.e.f. 29-10-2002.
6 Inserted by Part VIII of Chapter VI of the Finance Act, 2017 vide Gazette Notification No. 7, Extraordinary Prt II Section 1 dated March 31, 2017. This shall come into force from April 26, 2017.
7 Substituted by the Securities Laws (Amendment) Act, 1995, w.e.f. 25-01-1995. Prior to its substitution, sub-section (2) reads as under:
“(2) Words and expressions used and not defined in this Act but defined in the Capital Issues (Control) Act, 1947 or the Securities Contracts Regulation Act, 1956 shall have the same meanings respectively assigned to them in those Acts.”
8 Inserted by the Depositories Act, 1996, w.r.e.f. 20-09-1995.
