Corporatisation of Stock Exchanges by which Ownership, Management, and Trading Membership would be segregated from each other. Administrative steps will be taken and legislative changes.

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.... 2002 S.O.596(E).- Whereas the Hon'ble Finance Minister had announced in the Parliament on March 13, 2001, that "corporatisation of stock exchanges by which ownership, management, and trading membership would be segregated from each other. Administrative steps will be taken and legislative changes, if required, will be proposed accordingly." In accordance with the above, policy announcement....

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....ted January 10, 2002, to implement the SEBI Board decision by suitably amending their Rules, Articles of Association etc., within two months from the date of the said Order; and Whereas SEBI advised C7SE vide letter no. SMD/CSE/ADMN/4536/02 dated March 19, 2002 to confirm whether they had complied with the SEBI directive of January 10, 2002, issued vide SEBI Circular no. 2, whereby no broker me....

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....ereas most of the stock exchanges have amended their rules/articles of association to give effect to the order of 10.1.2002, and there is failure on the part of CSE to amend the articles of association in the light of the above, SEBI is of the opinion that in the interests of the investors and the capital markets, as also in public interest, it is necessary and expedient to amend the Articles of A....