The Gazette of India
EXTRAORDlNARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No, 363] NEW DELHI, WEDNESDAY, APRIL 17, 2002/CHAITRA27, 1924 2 THE GAZETTE OF INDIA: EXTRAORDINARY [PAKTH—SEC. 3©]' SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION
Mumbai. the 17th April, 2002
S.O, 435(E).—Whereas the Chairman, Securities and Exchange Board of India vide his order dated January ID, 2002, passed in exercise of powers under sub-section (1) of Section 8 of the Securities Contracts (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 Jaipur Stock Exchange Limited has failed to comply with the said order within the time stipulated therein.
Now, in exercise of thepowers conferred by sub-section (2) of Section 8 of Securities Contracts (Regulation) Act, 1956, the Securities and Exchange Board oflndia hereby makes the following amendments to the Articles of Association of Jaipur Stock Exchange Limited, namely:—
In Article 74,
(i) in clause (a), the following proviso shall be added:
"Provided that no broker member of the exchange shall be the President of the exchange.'
(n) in clause (c), the following proviso shall be added :
"Provided that no broker member of the exchange shall be the Vice President of the exchange." (iii) in clause (e), the following proviso shall be added