As per the Rules of Metropolitan Stock Exchange of India Ltd. Limited change in legal status of member is considered as conversion in the following circumstances:

• In the case of conversion of an individual member into a partnership firm /company , if the individual member holds and continues to hold at least 51% of the share in the profits/losses and/or at least 51% of share in the capital of the partnership firm, or at least 51% of shareholding / interest in the company, which shall take up the membership of the Stock Exchange.
• In the case of conversion of a Member firm into a company, if the partners holding at least 51% of share in the profits / losses and /or at least 51% of share in the capital of the member firm hold and continue to hold at least 51% of shareholding /interest in the company which shall take up the membership of the Stock Exchange.