Segregation of exchange management from trading membership: broker members barred from holding President, Vice President or Treasurer posts. SEBI directed exchanges to separate ownership and trading membership from management; where Gauhati Stock Exchange failed to comply, SEBI amended Article 117 to add a proviso that no broker member of the exchange shall be an office bearer i.e. President, Vice President or Treasurer of the exchange, thereby prohibiting broker members from holding specified managerial offices.
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Provisions expressly mentioned in the judgment/order text.
Segregation of exchange management from trading membership: broker members barred from holding President, Vice President or Treasurer posts.
SEBI directed exchanges to separate ownership and trading membership from management; where Gauhati Stock Exchange failed to comply, SEBI amended Article 117 to add a proviso that no broker member of the exchange shall be an office bearer i.e. President, Vice President or Treasurer of the exchange, thereby prohibiting broker members from holding specified managerial offices.
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