REGD. NO. D, L.-33004/99

The Gazette of India

EXTRAORDlNARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 357]

NEW DELHI, WEDNESDAY, APRIL 17, 2002/CHAITRA27, 1924

SECURITIES AND EXCHANGE BOARD OF

INDIA

NOTIFICATION

Mumbai, the 17th April, 2002

S.O.429(E).—Whereas the Chairman, Securities and

Exchange Board of India vide his order dated January 10,

2002, passed in exercise of powers under sub-section (1) of

section 8 of the Securities Contract (Regulation) Act read

with sub-section (3) of section 4 of the Securities and

Exchange Board of India Act, 1992, had directed all stock

exchanges to amend their Rules, Articles etc. within a period

of two months to give effect to the policy decision taken

by the Securities and Exchange Board of India and the

Central Government to segregate ownership and trading

membership from management of stock exchanges; and

Whereas Ahmedabad Stock Exchange has failed to

comply with the said order within the time stipulated therein;

Now, in exercise of the powers conferred by sub-

section (2) of section 8 of the Securities Contracts

(Regulation) Act, 1956, the Securities and Exchange Board

of India hereby makes the following amendments to the

Rules of Ahmedabad Stock Exchange, namely:—

In Rule 110, in sub-clause (i) of clause (a), after the

existing proviso, the following new proviso shall be added;

"Provided further that no broker member of the

exchange shall be an office bearer i.e. President, Vice

President or Treasurer of the exchange."

[F.N6.SEBI/LE/6203/02]

G.N. BAJPAL Chairman

1239 GI/2002

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