Question
What is the key distinction of an applicant being
"demutualised" as mentioned in the Regulation 7(2) of Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018?Solution
Explanation.—For the purposes of this sub-regulation, the term "demutualised" means that the ownership and management of the applicant is segregated from the trading rights or clearing rights, as the case may be, in terms of these regulations.
Statement:
Only P is Q
Only a few P are R
Conclusion:
I. All Q are P
II. No R is ...
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