Subs. by Act 1 of 2018, s. 2, for sub-clause (viii) (w.e.f. 9-2-2018). — THE COMPANIES ACT, 2013

3. Subs. by Act 1 of 2018, s. 2, for sub-clause (viii) (w.e.f. 9-2-2018). (80) " scheduled bank " means the scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934); (81) " securities " means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956); (82) " Securities and Exchange Board " means the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); (83) " Serious Fraud Investigation Office " means the office referred to in section 211; (84) " share " means a share in the share capital of a company and includes stock; (85) " small company " means a company, other than a public company,— (i) paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may be prescribed which shall not be more than 1 [ten crore rupees]; 2 [and] (ii) turnover of which 3 [as per profit and loss account for the immediately preceding financial year] does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than 4 [one hundred crore rupees]: Provided that nothing in this clause shall apply to— (A) a holding company or a subsidiary company; (B) a company registered under section 8; or (C) a company or body corporate governed by any special Act; (86) " subscribed capital " means such part of the capital which is for the time being subscribed by the members of a company; (87) " subsidiary company " or " subsidiary " , in relation to any other company (that is to say the holding company), means a company in which the holding company— (i) controls the composition of the Board of Directors; or (ii) exercises or controls more than one-half of the 5 [total voting power] either at its own or together with one or more of its subsidiary companies: Provided that such class or classes of holding companies as may be prescribed shall not have layers of subsidiaries beyond such numbers as may be prescribed. Explanation.—For the purposes of this clause,— (a) a company shall be deemed to be a subsidiary company of the holding company even if the control referred to in sub -clause (i) or sub-clause (ii) is of another subsidiary company of the holding company; (b) the composition of a company's Board of Directors shall be deemed to be controlled by another company if that other company by exercise of some power exercisable by it at its discretion can appoint or remove all or a majority of the directors; (c) the expression " company " includes any body corporate; (d) " layer " in relation to a holding company means its subsidiary or subsidiaries;

Section 3