Amendments of the Article of Association of Calcutta Stock Exchange Association Ltd.

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....poratisation 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, The Securities and Exchange Board of India (hereinafter referred to as "SEBI") had discussed the issue of demutualisation....

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....in 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 member was allowed to hold office as President, Vice-President within a period of two months from the date of the directive and CSE....

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.... 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 Association, in the manner indicated in this Order, inter-alia for the following reasons namely: (i) To expedite the corporatisation o....