Renewal of recognition the OTC Exchange Of India. - S.O. No.603(E) - F. No. 1/36/SE/94 - SEBI

MINISTRY OF FINANCE (Department of Economic Affairs) (ECB and Investment Division) NOTIFICATION New Delhi, the 22nd August, 1994 S.O. 603(E).- The Central Government, having considered the application for renewal of recognition made under section 3 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), read with rule 7 of the Securities Contracts (Regulation) Rules, 1957, by the Over The Counter Exchange of India, Bombay, (hereinafter referred to as the Exchange) and being satisfied that it would be in the interest of the trade and also in public interest so to do, hereby grants, in exercise of the powers conferred by section 4 of the Act, read with rule 7 of the said rules, recognition to the Exchange under the said section 4 of the Act for a further period of five years commencing on the 23rd August, 1994 and ending with the 22nd August, 1999 in respect of contracts in securities, subject to the following condition and such other conditions, as may be imposed hereafter, namely;- The Exchange shall take necessary action for implementing the recommendations contained in section III in the REPORT ON INSPECTION OF OTC EXCHANGE OF INDIA forwarded to the Exchange under reference number SMD-1/4186/94 dated 5-8-1994 by the Securities and Exchange Board of India, Bombay. [F. No. 1/36/SE/94] P. J. NAYAK, Jt. Secy.