Stock exchanges in the country have amended their rules/Articles of Association to provide for non-eligibility of a person to offer himself as a candidate for being a President/Vice President if he has been so elected on two consecutive occasions earlier.
This has reference to the discussions at the Presidents/ED’s meeting of the stock exchanges with Chairman, SEBI on 24.11. 93. It may be recalled that it was agreed during that meeting that the base capital norm enumerated in the capital adequacy norms circulated by SEBI will be fulfilled by 10.12.93.
