Company membership eligibility for stock exchanges conditioned on SEBI registration, director shareholdings and specified director experience. The amendment sets eligibility for company membership of a stock exchange: a company formed under the Companies Act must undertake to satisfy SEBI financial requirements for registration; a majority of directors must be shareholders and together hold a prescribed minimum proportion of paid-up equity; directors must not be disqualified under specified subclauses; and at least two directors must each have a minimum two years' experience in dealing in securities, or as portfolio managers, or as investment consultants.
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.
Company membership eligibility for stock exchanges conditioned on SEBI registration, director shareholdings and specified director experience.
The amendment sets eligibility for company membership of a stock exchange: a company formed under the Companies Act must undertake to satisfy SEBI financial requirements for registration; a majority of directors must be shareholders and together hold a prescribed minimum proportion of paid-up equity; directors must not be disqualified under specified subclauses; and at least two directors must each have a minimum two years' experience in dealing in securities, or as portfolio managers, or as investment consultants.
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