175. The constituting documents, by-laws and operating rules of an organization must provide for
(1) unrestricted membership for every person who fulfils the conditions of admission;
(2) equal access to services for every member;
(3) the disciplining of members or their representatives for breach of the by-laws or operating rules of the organization or contravention of this Act or the regulations.
However, the Commission shall determine the requirements applicable to a securities clearing-house.