Section 44 in The Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012
44. Bye-laws, rules, etc. of stock exchanges and clearing corporation.
(1)A recognised stock exchange and recognised clearing corporation shall, with the previous approval of the Board, make bye-laws for the regulation of contracts and clearing and settlement, as the case may be, as per section 9 of the Act and these regulations.(2)No memorandum of association, articles of association or any other constitution document, in so far as they relate to matters specified in section 3 of the Act or under these regulations and bye- laws of a recognised stock exchange or a recognised clearing corporation, shall be amended except with prior approval of the Board.
