Section 8(8) in Securities Contracts (Regulation) Rules, 1957
(8)[ Where the Securities and Exchange Board of India makes a recommendation, the governing body of a stock exchange shall, admit as member the following corporations, bodies corporate, companies or institutions, namely :- [Inserted by Notification No. G.S.R. 268(E), dated 20.3.2017 (w.e.f. 21.2.1957).](a)the Industrial Finance Corporation, established under the Industrial Finance Corporation Act, 1948 (15 of 1948);(b)the Industrial Development Bank of India, established under the Industrial Development Bank Act, 1964 (18 of 1964);(c)any insurance company granted registration by the Insurance Regulatory Development Authority under the Insurance Act, 1938 (4 of 1938);(d)the Unit Trust of India, established under the Unit Trust of India Act, 1963 (52 of 1963);(e)the Industrial Credit and Investment Corporation of India, a company registered under the Companies Act, 1956 (1 of 1956);(f)the subsidiaries of any of the corporations or companies specified in clauses (a) to (e) and any subsidiary of the State Bank of India or any nationalised bank set up for providing merchant banking services, buying and selling securities and other similar activities;(g)any bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934);(h)the Export Import Bank of India, established under the Export Import Bank of India Act, 1981 (28 of 1981);(i)the National Bank for Agriculture and Rural Development, established under the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981);(j)the National Housing Bank, established under the National Housing Bank Act, 1987 (53 of 1987);(k)Central Board of Trustees, Employees' Provident Fund, established under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952);(l)any pension fund registered or appointed or regulated by the Pension Fund Regulatory and Development Authority under the Pension Fund Regulatory And Development Authority Act, 2013 (23 of 2013);(m)any Standalone Primary Dealers authorised by the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934); and(n)Category I and Category II foreign portfolio investors registered under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014:Provided that such foreign portfolio investors shall engage only in proprietary trades in such class of securities as may be specifically permitted for them by the Securities and Exchange Board of India.]
