Segregation of exchange management: broker members prohibited from serving as President or Vice President of the exchange.
SEBI amends Article 104 of the Articles of Association of Hyderabad Stock Exchange Limited to add provisos prohibiting any broker member of the exchange from serving as President or as Vice President, implementing the policy to segregate ownership and trading membership from exchange management after the exchange failed to comply with SEBI's earlier direction.

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.

Segregation of ownership and trading membership bars broker members from serving as exchange office bearers under SEBI amendment.
The regulator amended Article 115 of the Articles of Association of Cochin Stock Exchange Limited by adding a proviso that prohibits broker members from serving as office bearers (President, Vice President or Treasurer), implementing the policy to segregate ownership and trading membership from exchange management after the exchange failed to comply within the stipulated period.

Segregation of ownership and management: broker members prohibited from holding office-bearer posts in the exchange under directive.
Statutory powers were used to amend Bhubaneshwar Stock Exchange Articles to require segregation of trading membership from management; Article 120(a) now includes a proviso prohibiting any broker member from serving as an office-bearer (President, Vice-President or Treasurer) to ensure ownership and broker trading rights are separated from executive control.

Segregation of ownership and trading membership bars broker members from holding exchange office bearer positions, enforcing governance separation.
The Securities and Exchange Board of India amended the Articles of Association of Bangalore Stock Exchange Limited to add a proviso prohibiting broker members from serving as office-bearers-President, Vice President or Treasurer-thereby enforcing the segregation of ownership and trading membership from the management of the exchange under its statutory powers.

Segregation of ownership and trading membership: broker members barred from serving as exchange office bearers.
Central authorities required segregation of ownership and trading membership from exchange management and, for noncompliant exchanges, exercised statutory powers to amend exchange rules. The amendment inserts a proviso barring broker members from serving as office bearers-President, Vice President or Treasurer-thereby separating trading membership from executive management to address conflict-of-interest concerns.

Financial liability to the regulator disqualifies members; detailed turnover based fee computation and conversion continuity clarified.
The amendment adds disqualification where any financial liability to SEBI under the regulations is due and payable and revises Schedule fee rules: it prescribes fee computation rates and bases for jobbing transactions, government securities and similar units, carry forward/renewal/badla transactions (excluding reverse offsets), unreported broker transactions, and put throughs on other exchanges; excludes underwriting and deposit collection from turnover; substitutes wording to clarify periodic fee language; and treats conversion of individual or partnership membership into a corporate entity as continuation for fee purposes so no duplicate fee is charged.

Mutual fund disclosure rules: amendment shifts from publication to mailing and revises portfolio disclosure requirements.
Amendment substitutes Mailing for "Publication" in regulation 56, omits the requirement to publish through advertisement and an abridged scheme wise annual report, deletes the proviso exempting full portfolio disclosure when full accounts are published in newspapers, and replaces the reference to publication in summary form with a requirement that information be mailed in abridged summary form as per sub regulation (1).

Appointment of SEBI Chairman: Central Government appoints Shri G N Bajpai to lead SEBI from assumption of office.
By notification under Section 4 of the SEBI Act and rule 3 of the SEBI Terms and Conditions Rules, the Central Government appoints Shri G. N. Bajpai, then Chairman of LIC, as Chairman of SEBI for a fixed term of three years from the date he assumes charge or until further orders.

Minimum offer price: disinvestment competitive bid price governs offers for infrequently traded public sector shares.
The amendment excludes the exemption for acquisitions by a Government company when such acquisition of a listed Public Sector Undertaking occurs through the Central Government's competitive bidding for disinvestment. It substitutes language in Regulation 20 to state that the authority "opens the financial bid," inserts sub-regulation (3A) providing that for disinvested PSUs with infrequently traded shares the minimum offer price shall be the price paid by the successful bidder to the Central Government via competitive bidding, and adds "or cum-dividend" after "cum-bonus" in the pricing explanation.