Section39: The Board may specify terms

1) In issuing the license to carry on a stock exchange, the Board may specify necessary terms taking into account the condition of the capital market, healthy operation of the stock exchange and interests of investors. It shall be the duty of the concerned stock exchange to observe such terms.

2) The Board may, as per necessity, alter and modify the terms specified pursuant to sub-section (1), having regard to the condition of the capital market, healthy operation of the stock exchange and interests of investors.