11 June 2011
It shall come into force on 6th February 1997. In this scheme, unless the context otherwise requires :-
(a.) "approved intermediary" means a person duly registered by the Board under the guidelines/scheme through whom the lender will deposit the securities for lending and the borrower will borrow the securities;
(b.) "Board" means the Securities and Exchange Board of India (SEBI) established under Section 3 of the Securities and Exchange Board of India Act, 1992;
(c.) "borrower" means a person who borrows the securities under the scheme through an approved intermediary;
(d.) "corporate benefits" shall include dividends(gross), rights, bonus, redemption benefits, interest, or any other right or benefit accruing on the securities lent;
(e.) "lender" means a person who deposits the securities registered in his name or in the name of any other person duly authorised on his behalf with an approved intermediary for the purpose of lending under the scheme;
(f.) "securities" has the meaning assigned to it in Section 2 of the Securities Contracts (Regulation) Act, 1956;
(g.) "scheme" means Securities Lending Scheme, 1997 for lending of securities through an approved intermediary to a borrower under an agreement for a specified period with the condition that the borrower will return equivalent securities of the same type or class at the end of the specified period along with the corporate benefits accruing on the securities borrowed.
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