(a) that the rules and bye- laws of a stock exchange applying for registration are in conformity with such conditions as may be prescribed with a view to ensure fair dealing and to protect investors;

(b) that the stock exchange is willing to comply with any other conditions (including conditions as to the number of members) which the Central Government, after con- sultation with the governing body of the stock exchange and having regard to the area served by the stock ex- change and its standing and the nature of the securities dealt with by it, may impose for the purpose- of carry- ing out the objects of this Act; and

(c) that it would be in the interest of the trade and also in the public interest to grant recognition to the stock exchange; it may grant recognition to the stock exchange subject to the con- ditions imposed upon it as aforesaid and in such form as may be prescribed.