(1)In this Act, unless t he context otherwise requires, -
(a)“Board ” means the Securities and Exchange Board of India established under section 3;
(b)“Chairman ” means the Chairman of the Board;
1[(ba) “collective investment scheme ” means any scheme or arrangement which satisfies the
conditions specified in section 11AA ;]
(c)“existing Securities and Exchange Board ” means the Securities and Exchange Board of India
constituted under the Resolution of the Government of India in the Dep artment of Economic Affairs
No. 1(44)SE/86, dated the 12th day of April, 1988;
(d)“Fund ” means the Fund constituted under section 14;
2[(da) “Insurance Regulatory and Development Authority ” means the Insurance Regulatory and
Development Authority of India established under sub -section ( 1) of section 3 of the Insurance
Regulatory and Development Authority Act, 1999 (41 of 1999) ;
(db) “Judicial Member ” means a Member of the Securities Appella te Tribunal appointed under
sub-section ( 1) of section 15MA and in cludes the Presiding Officer;]
(f)“notification ” means a notification published in the Official Gazette;
2[(fa) “Pension Fund Regulatory and Development Authority ” means the Pension Fund
Regulatory and Development Authority established under sub -section ( 1) of section 3 of the Pension
Fund Regulatory and Development Authority Act, 2013 (23 of 2013) ;]
(g)“prescribed ” means prescribed by rules made under this Act;
(h)“regulations ” means the regulations made by the Board under this Act;
3[(ha) “Reserve Bank ” means the Reserve Bank of India constituted under section 3 of the Reserve
Bank of India Act, 1934 (2 of 1934);]
(i)“securities ” has the meaning assigned to it in section 2 of the Securities Contracts (Regulation)
Act, 1956 (4 1 of 1956).
2[(j) “Technical Member ” means a Technical Member appointed under sub -section ( 1) of