Adequate financial powers to Executive Directors

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..... r Sir, Sub: Adequate financial powers to Executive Directors We had vide our circular no. 25/1999 dated August 12, 1999 advised the stock exchanges to accord adequate financial powers to the executive director of the stock exchanges for the smooth functioning of the stock exchange. The issue of the adequacy of the financial powers of the Executive Directors has also .....

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..... d mean that the member broker directors on the Governing Boards of the stock exchanges shall not be eligible to sign cheques on behalf of the stock exchange. As the Joint Parliamentary Committee in its Report has taken a strong objection to the broker directors on the governing boards of the stock exchanges signing cheques, it has been decided that the stock exchanges shall provide speci .....

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