Application for seeking recognition as a Stock Exchange/ Clearing Corporation

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..... nge/ clearing corporation shall substantiate its capability to fulfill all the requirements laid down under SCRA, SCRR and regulation 7 of these Regulations at the time of making the application. (2) For the purpose of grant of in-principle approval under regulation 7(5) of these Regulations, the Board may take into account the factors which it may deem fit in the interest of the securities marke .....

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..... applicant shall satisfy the Board with regard to compliance of the following: (a) Appointment of heads of key departments such as legal, listing, member registration, trading and surveillance in case of a stock exchange, and (b) Appointment of heads of key departments such as risk, legal, clearing and settlement, in case of a clearing corporation. (c) Satisfactory compliance with observatio .....

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