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of <h1>Applicants Must Fulfill Securities Contracts Act & Rules for Stock Exchange Recognition; Submit Plans, Financials, and Meet Board Conditions.</h1> An applicant seeking recognition as a stock exchange or clearing corporation must demonstrate its capability to meet all requirements under the Securities Contracts (Regulation) Act, Securities Contracts (Regulation) Rules, and relevant regulations. The application process involves submitting a business feasibility plan, financial details, organizational structure, and information on shareholders and management. Before granting final approval, the applicant must appoint key department heads and comply with any Board observations. The Board may also impose additional requirements deemed necessary for the application's approval, considering the interests of the securities market.
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