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Saturday, April 26, 2008

"shareholder having trading rights" under SCRR (MIMPSRSE), 2006

Yes, Sebi vide http://thisisvj.googlepages.com/SebiCircular.pdf

The term “shareholder having trading rights” under Securities Contracts(Regulation) (Manner of Increasing and Maintaining Public Shareholding in RecognisedStock Exchanges) Regulations, 2006 would mean a shareholder who has a trading interest in the stock exchange, whether directly or indirectly through a person having trading rights.
Explanation:
A shareholder having a trading interest “indirectly” in relation to a person having trading rights, would be understood in the same manner as the term “associate” is in relation to a shareholder having trading rights under regulation 2(1)(b) of the Securities Contracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in Recognised Stock Exchanges) Regulations, 2006.

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