Corporatisation of Stock Exchanges by which Ownership, Management, and Trading Membership would be segregated from each other. Administrative steps will be taken and legislative changes. - S.O. No.596(E) - SEBI/LE/8716/02 - SEBI
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Demutualisation: broker members prohibited from serving as exchange office bearers to segregate ownership and management. SEBI mandates separation of ownership, management and trading membership and requires exchanges to amend their instruments to prevent broker members from serving as office bearers. SEBI amends CSE's Articles of Association by deleting the word 'elected' in Article 82E(i) and adding a proviso that no broker member shall be President, Vice President or Treasurer, aiming to harmonise governing board composition and advance corporatisation and demutualisation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Demutualisation: broker members prohibited from serving as exchange office bearers to segregate ownership and management.
SEBI mandates separation of ownership, management and trading membership and requires exchanges to amend their instruments to prevent broker members from serving as office bearers. SEBI amends CSE's Articles of Association by deleting the word "elected" in Article 82E(i) and adding a proviso that no broker member shall be President, Vice President or Treasurer, aiming to harmonise governing board composition and advance corporatisation and demutualisation.
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