Notification under section 11(3) of the Securities Contracts (Regulation) Act, 1956 for extending the period of supersession of the Committee of the Calcutta Stock Exchange Association Limited - S.O. 904(E) - SEBI/LE/43508/2005 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 29 th June, 2005 S.O. 904(E).- Vide Notification F. No. SEBI/LE/26450/2004, dated November 30, 2004 ( said notification ), the supersession of the Committee of the Calcutta Stock Exchange Association Limited ( Committee ) was extended by the Securities and Exchange Board of India ( SEBI ) for a further period upto June 30, 2005 and Shri Tushar Kanti Das, IAS (Retd.) continued as an Administrator to exercise and perform all the powers and duties of the Committee. The term of supersession of the Committee is due to expire on June 30, 2005. I have noted that the Administrator has initiated various corrective measures in the functioning of the Exchange, some of which require sustained follow up action. Further, I am of the view that in order to further streamline the functioning of the Exchange, time required to complete the process of election and constitution of the new Committee and also to complete the process of corporatisation and demutualisation, the period of supersession of the Committee is required to be extended for a further period upto March 31, 2006. In view of the aforesaid, in exercise of the powers conferred upon me under section 4(3) of Securities and Exchange Board of India Act, 1992 read with section 11 of the Securities Contract (Regulation) Act, 1956 and the Notification No. S.O. 573, dated July 30, 1992 issued by Central Government, the supersession of the Committee of the Calcutta Stock Exchange Association Limited as ordered in the said notification is hereby extended for a further period upto March 31, 2006 with effect from July 1, 2005. Shri Tushar Kanti Das, IAS (Retd.) shall continue as the Admini-strator and shall exercise and perform all the powers and duties of the Committee, during the period so extended. Shri Tushar Kanti Das, may take the assistance of such persons as he deems necessary in discharge of his duties as Administrator. [F.No. SEBI/LE/43508/2005] M.DAMODARAN, Chairman