Demutualisation requirements enforce segregation of ownership and trading rights, capping voting for trading-member shareholders and mandating majority public shareholding. SEBI approves LSE's demutualisation Scheme requiring separation of ownership and management from trading rights, incorporation of Scheme provisions into corporate documents by the Due Date, limits on voting by shareholders who are trading members, a majority-public shareholding requirement excluding trading-right holders, transfer of clearing functions to a recognised Clearing Corporation within a prescribed period subject to SEBI approval, restrictions on use of assets and reserves for purposes other than discharging pre-existing liabilities and exchange operations, and ongoing compliance and reporting obligations to SEBI.