Eligibility and shareholding limits for IFSC clearing corporations require subsidiary structure with predominant parent ownership and capped other holdings. Amendment prescribes eligibility and shareholding limits for clearing corporations in IFSCs: recognized exchanges or clearing corporations must form a subsidiary for IFSC clearing services with majority ownership by the parent; remaining share capital may be held by others subject to limits and specified institutional categories are permitted higher collective holdings; compliance with relevant Securities Contracts (Regulation) Regulations provisions is required.
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Provisions expressly mentioned in the judgment/order text.
Eligibility and shareholding limits for IFSC clearing corporations require subsidiary structure with predominant parent ownership and capped other holdings.
Amendment prescribes eligibility and shareholding limits for clearing corporations in IFSCs: recognized exchanges or clearing corporations must form a subsidiary for IFSC clearing services with majority ownership by the parent; remaining share capital may be held by others subject to limits and specified institutional categories are permitted higher collective holdings; compliance with relevant Securities Contracts (Regulation) Regulations provisions is required.
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