Council composition and committee structure revised to tighten re election limits and require non member representation with board approval. SEBI substituted Article 105 to vest management in a Council of Management and amended Article 106 to change qualification wording and add a proviso barring persons elected for two consecutive Council terms from offering for re-election for two years. Article 130 was revised to rename and allocate Disciplinary and Grievance Committee roles, add a Grievance Committee, and require that committees include a specified minority of exchange members with the balance nominated from non-members subject to prior Board approval.
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Council composition and committee structure revised to tighten re election limits and require non member representation with board approval.
SEBI substituted Article 105 to vest management in a Council of Management and amended Article 106 to change qualification wording and add a proviso barring persons elected for two consecutive Council terms from offering for re-election for two years. Article 130 was revised to rename and allocate Disciplinary and Grievance Committee roles, add a Grievance Committee, and require that committees include a specified minority of exchange members with the balance nominated from non-members subject to prior Board approval.
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