Voting rights restriction reduces trading member control; scheme enforces board governance, trading member registration, asset use and compliance. The approved Scheme converts BSE into Bombay Stock Exchange Limited with conditions: restrict voting influence of shareholder trading members; require trading members to be SEBI registered or obtain registration within a transition period; limit trading member representation on the Governing Board and preserve SEBI's right to nominate directors with the Chief Executive as ex officio director; transfer all assets, liabilities, contracts and employees to the new company; mandate transfer of clearing functions to a SEBI recognized clearing corporation; and require that non current assets and reserves be used solely for exchange operations, with ongoing compliance reporting to SEBI.