Networth requirements.

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..... t all times: Provided that a recognised stock exchange having a lesser networth as on the date of commencement of these regulations shall achieve a minimum networth of one hundred crore rupees within a period of three years from the date of commencement of these regulations. (2) Every applicant seeking recognition as a clearing corporation under regulation 4 shall have a minimum networth of one hu .....

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..... ry recognised stock exchange or recognised clearing corporation shall submit an audited networth certificate from the statutory auditor on a yearly basis by the thirtieth day of September of every year for the preceding financial year. Explanation I.-For the purposes of this regulation, networth of a stock exchange means the aggregate value of paid up equity share capital plus free reserves (exclu .....

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