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        SEBI

        Central Government to segregate ownership and trading membership from management of stock exchanges - Whereas Madras Stock Exchange has failed to comply with the said order within the time. - S.O. No.436(E) - SEBI/LE/6214/02 - SEBI

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        Segregation of exchange management: brokers are barred from serving as President, Vice President or Treasurer following mandated reforms. SEBI exercised statutory powers to amend the Articles of Association of Madras Stock Exchange after the Exchange failed to comply with a direction to segregate ownership and trading membership from management, adding provisos to Article 115 that bar broker members from serving as President, Vice President or Treasurer.
                        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.

                              Segregation of exchange management: brokers are barred from serving as President, Vice President or Treasurer following mandated reforms.

                              SEBI exercised statutory powers to amend the Articles of Association of Madras Stock Exchange after the Exchange failed to comply with a direction to segregate ownership and trading membership from management, adding provisos to Article 115 that bar broker members from serving as President, Vice President or Treasurer.


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