SEBI aligns the definition of “change in control” with Companies Act
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- Last Updated on 19 January, 2023
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Notification No. SEBI/LAD-NRO/GN/2023/115, Dated: 17.01.2023
The SEBI has notified the SEBI (Change in Control in Intermediaries) (Amendment) Regulations, 2023. As per the amended norms, the definition of change in control defined under various intermediaries’ regulations like stock brokers, merchant bankers etc. stands revised. Now, if a body corporate’s shares are not listed on any recognised stock exchange, the meaning of change in control shall be construed with reference to the definition of control as provided in Section 2(27) of the Cos Act, 2013.
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