Shareholding in a recognised stock exchange.

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.... exchange shall be held by public. (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,- (i) a stock exchange; (ii) a depository; (iii) a banking company; (iv) an insurance....

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....tal paid up equity share capital ^3[:] ^4[****] ^5[Provided that no foreign portfolio investor shall acquire shares of a recognised stock exchange otherwise than through the secondary market.] Explanation.-For the purposes of ^6[sub-regulation (4)], the acquisition of shares in a recognised stock exchange through secondary market shall be construed as follows:- I. If the recognised sto....

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..../037 dated 07-03-2016 before it was read as ", subject to the following:-" 4. Omitted vide Notification No. SEBI/LAD/NRO/GN/2015-16/037 dated 07-03-2016 before it was read as "(a) the combined holding of such persons acquired through the foreign direct investment route shall not exceed twenty six per cent. of the total paid up equity share capital, at any time; (b) the combined holding of....