Recognition as 'recognised association' imposes client-data, audit-trail, transaction-integrity, and monthly reporting obligations on the exchange. Notification designates M/s BSE Limited as a recognised association for commodity derivative trading from commencement of such trading, conditional on either regulatory approval for derivatives or implementation of safeguards: recording and storing client particulars (including unique client identity number and PAN); maintaining a seven-year audit trail of derivative transactions; preventing erasure of recorded transactions; permitting modifications only for genuine error with retention of modification data; and monthly reporting of modified-transaction data in Form No. 3BC to the Director General of Income-tax (Intelligence and Criminal Investigation) within fifteen days of month-end.