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

The Gazette of India

EXTRAORDlNARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 364]

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

1266 GI/2002

(1)

2

THE GAZETTE OF INDIA: EXTRAORDINARY

[PART H—SEC. 3(ii)]

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTMCATION

Mumbai, the 17th April, 2002

S.0.436(E).—Whereas the Chairman, Securities and Exchange Board of India videts his order dated January 10,.

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 Madras 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 Articles of Association

of Madras Stock Exchange, namely:—

In Article 115,

v .(i)

in clause (a), the following proviso shall be added:

"Provided that no broker member of the exchange shall be the President or Vice President of the exchange.";

(ii)

in clause (d), the following proviso shall be added

"Provided that no broker member of the exchange shall be the Treasurer of the exchange".

[F No. SEBI/LE/6214/02]

G. N. BAJPAI, Chairman

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