9911796707
TMI BlogCorporatisation of Stock Exchanges by which Ownership, Management, and Trading Membership would be segregated from each other. Administrative steps will be taken and legislative changes.X X X X Extracts X X X X X X X X Extracts X X X X ..... Whereas the Hon'ble Finance Minister had announced in the Parliament on March 13, 2001, that "corporatisation of stock exchanges by which ownership, management, and trading membership would be segregated from each other. Administrative steps will be taken and legislative changes, if required, will be proposed accordingly." In accordance with the above, policy announcement, The Securities and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... implement the SEBI Board decision by suitably amending their Rules, Articles of Association etc., within two months from the date of the said Order; and Whereas SEBI advised C7SE vide letter no. SMD/CSE/ADMN/4536/02 dated March 19, 2002 to confirm whether they had complied with the SEBI directive of January 10, 2002, issued vide SEBI Circular no. 2, whereby no broker member was allowed to hold of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es have amended their rules/articles of association to give effect to the order of 10.1.2002, and there is failure on the part of CSE to amend the articles of association in the light of the above, SEBI is of the opinion that in the interests of the investors and the capital markets, as also in public interest, it is necessary and expedient to amend the Articles of Association, in the manner indic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Board of India makes the following amendments to the Articles of Association of CSE namely:- 1. In clause (i) Article 82E, the word "elected" appearing after the words "amongst the" and before the word "member" shall be deleted 2. In clause (i) of Article 82 E, after the existing proviso, the following proviso shall be added: "Provided further that no broker member of the exchange shall be an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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