Corporatisation and demutualisation: scheme mandates separation of ownership from trading rights, voting and shareholding controls. Approval is granted to a scheme under section 4B of the SCRA for corporatisation and demutualisation of the Vadodara Stock Exchange, requiring re registration as a company limited by shares, allotment of equity to members subject to specified conditions, segregation of ownership from trading rights, limits on trading member representation and voting, incorporation of the Scheme into constitutional documents, transfer of clearing functions to a recognised clearing corporation, constraints on use of assets and reserves, and ongoing compliance and reporting to SEBI.