Section 8(1)(b) in Securities Contracts (Regulation) Rules, 1957
(b)he is not a citizen of India; provided that the governing body may in suitable cases relax this condition with the prior approval of the [Securities and Exchange Board of India] [Substituted for 'Central Government' by the Securities Contracts (Regulation) (Amendment) Rules, w.e.f. 23.12.1996.];