Intermediary - Definition - Law Dictionary Home Dictionary Definition intermediary

Definition :

Intermediary, 'intermediary' as defined by s. 2(1) of the W.B. Estate Acquisitation Act, 1953 includes a proprietor, tenure holder, under-tenure holder or any other intermediary above a raiyat. Under the provisions of the Bengal Patni Regulations 8 of 1819, holder of a Patni deed enjoyed the right of the zamindar unless some limitation was expressly mentioned in the deed. The interest of a Patnidar was capable of being transferred by sale in the same manner as any other real property. A Patni right holder is a proprietor, therefore included within the meaning of intermediary under the Act, Union of India v. Nihar Kanta Sen, AIR 1987 SC 1713: (1987) 3 SCC 465 (472): (1987) 2 SCR 1108. [W.B. Estates Acquisition Act, 1953, s. 2(i)]

Intermediary means a stockbroker, sub-broker, share transfer agent, banker to an issue, trustee to a trust deed, registrar to an issue, merchant banker, underwriter, portfolio manager, investment adviser and any other intermediary associated with securities market and registered under s. 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992). [Prevention of Money-Laundering Act, 2002 (15 of 2003), s. 2(1) (n)]

Intermediary with respect to any particular electronic message means any person who on behalf of another person receives, stores or transmits that message or provides any service with respect to that message. [Information Technology Act, 2000 (21 of 2000), s. 2(1) (w)]