Shareholding limits in recognised stock exchanges restrict resident and foreign holdings and impose acquisition and board representation conditions. The amendments define 'shareholder having trading rights' including indirect trading interests, cap resident holdings at five per cent with a fifteen per cent exception for specified institutional entities, require reduction of existing excess holdings within the Act's timeframe, and impose a forty nine per cent overall foreign ownership ceiling with sub limits and conditions for foreign direct investment and foreign institutional investors, including restrictions on acquisition route and board representation; acquisitions exceeding five per cent after commencement require prior Board approval and fit and proper status.