law: Securities Contracts (Regulation) Act, 1956
  5.Withdrawal of
  
  recognition.-
  If the Central
  
  Government is of opinion that the recognition granted to a stock exchange under
  
  the provisions of this Act should, in the interest of the trade or in the
  
  public interest, be withdrawn, the Central Government may serve on the
  
  governing body of the stock exchange a written notice that the Central
  
  Government is considering the withdrawal of the recognition for the reasons
  
  stated in the notice, and after giving an opportunity to the governing body to
  
  be heard in the matter, the Central Government may withdraw, by notification in
  
  the Official Gazette, the recognition granted to the stock exchange;
  Provided that no such withdrawal shall affect the validity of any contract
  
  entered into or made before the date of the notification, and the Central
  
  Government may, after consultation with the stock exchange, make such provision
  
  as it deems fit in the notification of withdrawal or in any subsequent
  
  notification similarly published for the due performance of any contracts
  
  outstanding on that date.