Demutualisation imposes segregation of ownership and trading rights with governance, shareholding and compliance requirements. The Scheme mandates demutualisation by segregating ownership and management from trading rights, requiring incorporation of provisions into BgSE's constitutional documents, limiting Trading Member representation on the Governing Board to one fourth with the Chief Executive as an ex officio director, and permitting SEBI nominations. It prescribes registration, admission standards, dues settlement and surrender rules for Trading Members, requires at least 51% equity to be held by the public other than trading shareholders, caps voting rights of trading shareholders at 5%, restricts use of assets and reserves, and mandates transfer of clearing functions to a recognized Clearing Corporation within two years.