SBO Rules definition

SBO Rules has the meaning attributed to such term in Clause 3.1.48.
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SBO Rules has the meaning given to such term in Clause 5.1(kkk). “Self-Certified Syndicate Bank(s)” or “SCSB(s)” has the meaning ascribed to such term in the Offer Documents.
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SBO Rules has the meaning given to such term in Clause 5.1(hhh).
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Examples of SBO Rules in a sentence

  • The debtor, in turn, argues that it proposed the amended plan in good faith in satisfaction of the requirements of the Bankruptcy Code.

  • It was also suggested in the Sahoo Committee Report that issuances should be made in FATF complaint jurisdictions as FATF recommendations prohibit financial institutions from keeping anonymous accounts.8 Accordingly, reporting companies will be required to seek information in Form BEN 4 through the depository bank in order to comply with SBO Rules if the quantum of GDR is 10% or more of the shares of the reporting company.

  • The intent of the SBO Rules, is to identify significant beneficial owners whose identity has not previously been disclosed to the concerned company.

  • Considering that the definition of the term “control” as given under Companies Act, 2013 is identical as the definition given under the Takeover Code, the two statutes may be read as beingpari materia with each other and accordingly, basis the aforesaid judgment, one can forcefully argue that the “control” inferred under the SBO Rules signify positive control and not negative control.

  • Therefore, the total holding of Mr. X (direct plus indirect) exceeds 11% which makes him a SBO of the reporting company judging by the literal interpretation of the SBO Rules.

  • Therefore the total holding of Mr. X (direct plus indirect) exceeds 11% which makes him a SBO of the reporting company judging by the literal interpretation of the SBO Rules.

  • The first reporting under the format has to be done by April 21, 2019.The circular has been brought sequential to the SBO Rules which still need clarification as specified by the authors above.

  • In our opinion, however, judging by the intention of the SBO Rules, this should not be the case as such persons by virtue of the position they hold are statutorily conferred with such powers.

  • Unlike the Takeover Code (i.e. SEBI SAST Regulations), the SBO Rules do not list the relationships which are regarded as “Deemed Persons Acting in Concert”.

  • Identify individual who ultimately holding significant beneficial ownership Recent Amendments on SBO Rules  MCA on 15th February, 2018, came out with draft of Companies (Beneficial Interest and Significant Beneficial Interest) Rules, 2018 On June 14, 2018, MCA issued the Companies (Beneficial Interest and Significant Beneficial Interest) Rules, 2018 (‘Final Rules’) and enforced section 90 of the Amendment Act. On Feb 8, 2019, MCA has notified the revised rules on SBO.


More Definitions of SBO Rules

SBO Rules has the meaning given to such term in Clause 11.1(iii) of this Agreement;
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Related to SBO Rules

  • HIPAA Rules means the Privacy, Security, Breach Notification, and Enforcement Rules at 45 CFR Part 160 and Part 164.

  • Applicable Rules means Section 10D of the Exchange Act, Rule 10D-1 promulgated thereunder, the listing rules of the national securities exchange or association on which the Company’s securities are listed, and any applicable rules, standards or other guidance adopted by the Securities and Exchange Commission or any national securities exchange or association on which the Company’s securities are listed.

  • Market Rules means the rules, regulations, customs and practices from time to time of any exchange, clearing house or other organization or market involved in the conclusion, execution or settlement of a Contract any exercise by any such exchange, clearing house or other organization or market of any power or authority conferred on it.

  • Rules means the West Bengal Housing Industry Regulation Rules, 2018 made under the West Bengal Housing Industry Regulation Act, 2017;