Eligibility for acquiring or holding shares

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....cognised stock exchange or recognized clearing corporation unless he is a fit and proper person: Provided that the onus shall be on the recognised stock exchange/ recognised clearing corporation to ensure that all its shareholders are fit and proper persons: Provided further that such a requirement to ensure that all its shareholders are fit and proper persons shall not be applicable to a ^1....

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.... - II of these regulations through the concerned stock exchange / clearing corporation. (5) The stock exchange / clearing corporation shall verify the declarations/ undertakings given by the shareholders under sub-regulation (4) and forward the application along with its recommendation for approval to the Board. ^4[*****] (7) Any person holding two per cent. or more of the paid up equity ....

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.... together with persons acting in concert, that entitles the person(s) so acquiring to exercise any voting rights in the range of two percent to five per cent, shall seek approval of the Board within fifteen days of such acquisition." 3. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/44. Dated 13-08-2021 before it was read as: "sub-regulation (2) or" 4. Omitted vide Notification ....