Section 8A(1) in The Securities Contracts (Regulation) Act, 1956
(1)A recognised stock exchange may, with the prior approval of the Securities and Exchange Board of India, transfer the duties and functions of a clearing house to a clearing corporation, being a company incorporated under the Companies Act, 1956 (1 of 1956), for the purpose of—(a)the periodical settlement of contracts and differences thereunder;(b)the delivery of, and payment for, securities;(c)any other matter incidental to, or connected with, such transfer.
