Section 45 in The Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012
45. Listing.
(1)Subject to the provisions of applicable laws in force, a recognised stock exchange may apply for listing of its securities on any recognised stock exchange, other than itself and its associated stock exchange, if,-(a)it is compliant with the provisions of these regulations particularly those relating to ownership and governance;(b)it has completed three years of continuous trading operations immediately preceding the date of application of listing; and(c)it has obtained approval of the Board.(2)The Board may specify such conditions as it may deem fit in the interest of the securities market including those in relation to transfer of shares held by any person.(3)A recognised stock exchange shall not list any securities of its associates.(4)The securities of a recognised clearing corporation shall not be listed on any stock exchange.
