Election to the Governing Board of Stock Exchanges

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s 1. Whenever the Governing Board of a Stock Exchange fails to comply with the provisions of the SC(R)A, SC(R)R, Bye-laws of the Stock Exchange and/or fails to implement the Directions/Guidelines issued by SEBI from time to time, it results in failure in governance. On such occasions, in order to ensure the safety and integrity of the Stock Exchange and that the transactions on the Stock Exchange....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the time of its supercession would not be eligible for re-election to the Governing Board of the Stock Exchange for a period of 2 years from the date of expiry of the order of supercession passed by SEBI. Further, the Stock Exchanges may provide for this disqualification in their Rules. 4. Accordingly, the Stock Exchanges are advised to - 4.1. ensure compliance of requirements of para 3 of this....