IFSCA (Market Infrastructure Institutions) Regulations, 2021, as amended up to November 01, 2024

IFSCA has published IFSCA (Market Infrastructure Institutions) Regulations, 2021, as amended up to November 01, 2024. The amendment provides that an applicant seeking recognition as a stock exchange or clearing corporation, as the case may be, shall comply with the following conditions, namely, –

1. The applicant is a company limited by shares;
2. The applicant is demutualised;
3. The applicant, its directors and its shareholders who hold or intend to hold shares, are fit and proper persons as specified in these regulations;
4. The applicant satisfies the requirements relating to the ownership and governance structure specified in these regulations;
5. The applicant satisfies the net worth requirements specified in these regulations;
6. The applicant satisfies the requisite capability including its financial capacity, functional expertise and infrastructure.