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      Question

      According to Securities Contracts (Regulation) (Stock

      Exchanges and Clearing Corporations) Regulations theĀ  Board may, onĀ  being satisfied with the capability of the applicant to comply with the conditionsĀ  laidĀ  downĀ  inĀ  thisĀ  regulation,Ā  grantĀ  in-principleĀ  approvalĀ  toĀ  theĀ  applicantĀ  which shall be valid for a period of _____________
      A One year Correct Answer Incorrect Answer
      B Two years Correct Answer Incorrect Answer
      C Three years Correct Answer Incorrect Answer
      D Seven years Correct Answer Incorrect Answer
      E One hundred and twenty days Correct Answer Incorrect Answer

      Solution

      Regulation 7 Consideration of grant of recognition: (5) the Board may, on being satisfied with the capability of the applicant to comply with the conditions laid down in this regulation, grant in-principle approval to the applicant which shall be valid for a period of one year.

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