Periodical Report – Grant of prior approval to members of stock exchanges/sub-brokers

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....ers of the stock exchanges and sub-brokers to obtain prior approval from SEBI for change in status or constitution has been done away with. However, the members of the stock exchanges would be required to take prior approval from SEBI for change in control. 3) The stock exchanges will continue to grant prior approval to their members and sub-brokers for change in status or constitution, which would include the following; (a) in case of a body corporate - (i) amalgamation, demerger, consolidation or any other kind of corporate restructuring falling within the scope of section 391 of the Companies Act, 1956 (1 of 1956) or the corresponding provision of any other law for the time being in force; (ii) change in its....

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....ard of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets. 7) This circular is available on SEBI website at www.sebi.gov.in under the categories "Legal Framework" and "Circulars". Yours faithfully,   V.S.Sundaresan Chief General Manager 022-26449200 [email protected] Encl: Annexure A   Annexure -A Format for reporting changes in "status or constitution" of members/ sub-brokers Name of the stock exchange:- Report for the quarter ending:- June/September/December/March                       Year:....