Section 5 of SCRA : Section 5: Withdrawal Of Recognition
SCRA
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Explanation using Example
Imagine there's a stock exchange in India that has been recognized by the Central Government under the Securities Contracts (Regulation) Act, 1956. However, after some time, the Government notices that this stock exchange is not operating in the best interest of investors or the public. For instance, let's say the stock exchange has been consistently failing to enforce its rules, leading to unfair trading practices and potential market manipulation.
In such a scenario, the Central Government may decide to withdraw the recognition of this stock exchange. Before doing so, the Government would issue a written notice to the stock exchange's gover...
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