Laws - The NSDL Byelaws

NSDL -BYELAWS -2000 CH-2

2. DEFINITIONS

2.1. Unless the context otherwise requires :-

2.1.1. Act : means The Depositories Act, 1996;

2.1.2. Board of Directors : means the Board of Directors of National Securities Depository Limited;

2.1.3. Business Rules : includes such manuals, notices, circulars containing the practices, procedures and administrative requirements relating to the operations and functions of the Depository system as may be notified by the Board of Directors from time to time;

2.1.4. Clearing Corporation : means any body corporate engaged in the activity of clearing and settlement of trades done on a recognised stock exchange;

2.1.5. *Client : in relation to a Participant means a Beneficial Owner who has opened an account with that Participant and has entered into the agreement in accordance with the provisions of Chapter 6 of these Bye Laws; *(Amended w.e.f. March 6, 1997. Prior to this amendment, Bye Law 2.1.5 read as follows :

2.1.5 Client : in relation to a Participant means a Beneficial Owner who has opened an account with that Participant and has entered into the agreement as per Annexure B in accordance with the provisions of Chapter 6 of these Bye Laws;)

2.1.6. Depository : means National Securities Depository Limited;

2.1.7. Eligible Securities : means securities which are admitted on the Depository in accordance with Chapter 8 of these Bye Laws;

2.1.8. User : means and includes all market intermediaries interacting with the Depository; and includes Participants, Issuers, Registrars and Transfer Agent and Clearing Corporation;

2.1.9. 2 "Other eligible entity" (Inserted w.e.f. October 16, 1998. The existing clause 2.1.9 has been renumbered as 2.1.10) shall mean any entity which is eligible to operate an Subsidiary General Ledger (SGL) with the permission of the Reserve Bank of India (RBI).

2.1.10. Words and expressions used but not defined in the Bye Laws but defined under The Depositories Act 1996, The Companies Act 1956, The Securities Contracts (Regulation) Act, 1956, The Securities and Exchange Board of India Act, 1992 and the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 shall have the same meaning respectively assigned to them under the aforesaid Acts and Regulations.