According to Security And Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993
“Registrar to an issue” means
The person appointed by a body corporate or any person or group of persons to carry on the following activities on its or his or their behalf:
i. Collecting applications from investors in respect of an issue;
ii. Keeping a proper record of applications and monies received from investors or paid to the seller of the securities; and
iii. Assisting body corporate or person or group of persons in:
(a) Determining the basis of allotment of securities in consultation with stock exchange;
(b) Finalising list of persons entitled to allotment;
(c) Processing and dispatching allotment letters, refund orders or certificates and other related documents in respect of an issue.
“Share transfer agent” means:
- Any person, who on behalf of any body corporate, maintains the records of holders of securities issued by such body corporate and deals with all matters connected with the transfer and redemption of its securities.
- A department or division, by whatever name called, of a body corporate performing the activities referred in sub-clause (i) if at any time the total number of the holders of its securities issued exceed one lakh.