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of <h1>Public companies can appeal stock exchange listing refusals under Section 22 of the Securities Contracts Act, excluding post-1999 amendments.</h1> Section 22 of the Securities Contracts (Regulation) Act, 1956, outlines the right of a public company or collective investment scheme to appeal against a recognized stock exchange's refusal to list its securities. If refused, the company or scheme must be provided with reasons and can appeal to the Central Government within fifteen days. The Central Government can vary or set aside the stock exchange's decision or grant permission if the exchange fails to act within a specified time. However, appeals are not allowed following the commencement of the Securities Laws (Second Amendment) Act, 1999.
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