Shareholding in a recognised stock exchange

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.... capital of that recognised stock exchange. (2) No person resident in India shall at any time, directly or indirectly, either individually or together with persons acting in concert, acquire or hold more than five per cent of the paid up equity share capital in a recognised stock exchange: Provided that,- (a) a stock exchange; (b) a depository; (c) a banking company; (d) an insurance com....

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....hold, either directly or indirectly, either individually or together with persons acting in concert, upto fifteen per cent of the paid up equity share capital of a recognised stock exchange. Explanation.-For the purposes of this proviso, the persons referred to in clauses (a) to (f) shall mean persons recognised/ incorporated outside India. (4) Subject to the limits as otherwise prescribed by th....