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of <h1>Corporatisation and Demutualisation of Stock Exchanges Defined under Sections 2(aa) and 2(ab) of the Securities Contracts Act.</h1> Corporatisation refers to the transition of a recognized stock exchange from a body of individuals or a society to a company incorporated to manage securities trading. Demutualisation involves separating ownership and management from trading rights within a stock exchange, as per a scheme approved by the Securities and Exchange Board of India. These definitions are outlined in sections 2(aa) and 2(ab) of the Securities Contracts (Regulation) Act, 1956, providing a framework for the structural transformation of stock exchanges to enhance governance and operational efficiency.
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