law: Companies (Amendment) Act, 2000
  2.
  
  Amendment of section 2.-
  In
  
  section 2 of the Companies Act, 1956 (1 of 1956) (hereinafter referred to as
  
  the principal Act),-
  a.  
  
    clause
  
  (1) shall be re-numbered as clause (1A) thereof and before the clause as so
  
  re-numbered, the following clause shall be inserted, namely:-
  '(1)
  
  "abridged prospectus" means a memorandum containing such salient
  
  features of a prospectus as may be prescribed;';
  a.  
  b.   clauses (3) and (4)
  
  shall be omitted;
  c.   after clause (12),
  
  the following clauses shall be inserted, namely:-
  '(12A)
  
  "Depository" has the same meaning as in the Depositories Act, 1996
  
  (22 of 1996);
  (12B)
  
  "derivative" has the same meaning as in clause (aa) of section 2 of
  
  the Securities Contracts (Regulation) Act, 1956 (42 of 1956);';
  a.  
  b.  
  c.  
  d.   after clause (14),
  
  the following clause shall be inserted, namely:-
  '(14A)
  
  "dividend" includes any interim dividend;';
  a.  
  b.  
  c.  
  d.  
  e.   after clause (15),
  
  the following clause shall be inserted, namely:-
  '(15A)
  
  "employees stock option" means the option given to the whole-time
  
  directors, officers or employees of a company, which gives such directors,
  
  officers or employees the benefit or right to purchase or subscribe at a future
  
  date, the securities offer d by the company at a pre-determined price;';
  f.  
  
    after
  
  clause (19), the following clauses shall be inserted, namely:-
  '(19A)
  
  "hybrid" means any security which has the character of more than one
  
  type of security, including their derivatives;
  (19B)
  
  "information memorandum" means a process undertaken prior to the
  
  filing of a prospectus by which a demand for the securities proposed to be
  
  issued by a company is elicited, and the price and the terms of issue for such
  
  securities is assessed, by me ns of a notice, circular, advertisement or
  
  document;';
  g.   after clause (23),
  
  the following clause shall be inserted, namely:- '(23A) "listed public
  
  companies" means a public company which has any of its securities listed
  
  in any recognised stock exchange;';
  h.   clause (25) shall be
  
  omitted;
  a.  
  b.  
  c.  
  d.  
  e.  
  f.  
  g.  
  h.  
  i.   for clause (30), the
  
  following clause shall be substituted, namely:- '(30) "officer"
  
  includes any director, manager or secretary or any person in accordance with
  
  whose directions or instructions the Board of directors or any one or more of
  
  the directors is or are accustomed to act;';
  j.   after clause (31),
  
  the following clause shall be inserted, namely:-
  '(31A)
  
  "option in securities" has the same meaning as in clause (d) of
  
  section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);';
  a.  
  b.  
  c.  
  d.  
  e.  
  f.  
  g.  
  h.  
  i.  
  j.  
  k.   clause (44) shall be
  
  omitted.
  l.   after clause (45A),
  
  the following clause shall be inserted, namely:- '(45AA) "securities"
  
  means securities as defined in clause (h) of section 2 of the Securities
  
  Contracts (Regulation) Act, 1956 (42 of 1956), and includes hybrids;';
  m.   after clause (46),
  
  the following clause shall be inserted, namely:-
  '(46A)
  
  "share with differential rights" means a share that is issued with
  
  differential rights in accordance with the provisions of section 86;'.