7. Amendment of section 13.-In section 13 of the principal Act,- (a) for the words "between members of a recognised stock exchange", the words "between members of a recognised stock exchange or recognised stock exchanges" shall be substituted;
(b) for the words "State or area" wherever they occur, the words "State or States or area" shall be substituted;
(c) the following proviso shall be inserted, namely:-
"Provided that any contract entered into between members of two or more recognised stock exchanges in such State or States or area, shall-
(i) be subject to such terms and conditions as may be stipulated by the respective stock exchanges with prior approval of Securities and Exchange Board of India;
(ii) require prior permission from the respective stock exchanges if so stipulated by the stock exchanges with prior approval of Securities and Exchange Board of India.".
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