Regulation 42 - Bye-laws and rules of stock exchanges and clearing corporation - Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018

Bye-laws and rules of stock exchanges and clearing corporation 42. (1) A recognised stock exchange and recognised clearing corporation shall, with the prior approval of the Board, make bye-laws for the regulation of contracts and clearing and settlement, as the case may be, as per section 9 of the Act and these regulations. (2) No memorandum of association, articles of association or any other constitution document, in so far as they relate to matters specified in section 3 of the Act or under these regulations and bye- laws of a recognised stock exchange or a recognised clearing corporation, shall be amended except with prior approval of the Board. (3) The Bye-laws of the clearing corporation and procedure for submitting amendments to Articles/Rules/Bye-laws 1 [****], etc., of a recognised stock exchange/ recognized clearing corporation for approval of the Board shall be made in the manner as specified under PART E of Schedule II of these regulations. ************* NOTES:- 1. Omitted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/21 dated 04-06-2019 before it was read as /Regulations