Corporatisation and demutualisation: SEBI approval requires re registration, governance limits, shareholding re structuring and compliance. SEBI approved a scheme requiring the Gauhati Stock Exchange to re-register as a company limited by shares, allot equity shares to existing members (not constituting a public offer), incorporate the Scheme into its constitutional documents, and implement governance, shareholding and trading rights rules including limits on trading members' board representation and voting rights; transfer clearing functions to a recognised Clearing Corporation within the prescribed period; restrict use of assets and reserves to specified exchange liabilities and operations; and report compliance to SEBI, which may amend or relax Scheme provisions as necessary.