TMI BlogConditions of appointment of directorsX X X X Extracts X X X X X X X X Extracts X X X X ..... of the Board. (2) The public interest directors on the governing board of a depository shall be 2 [ appointed with the prior approval of ] the Board. (3) Public interest directors shall be 3 [ appointed ] for a term of three years, extendable by another term of three years, subject to performance review in the manner as may be specified by the Board: Provided that post the expiry of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iary of such other depository or recognized stock exchange or recognized clearing corporation. (5) A public interest director on the board of a depository shall not act simultaneously as member on more than five committees of that depository. (6) A public interest director on the board of a depository shall keep its governing board apprised of any conflict of interest, which may arise as a r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of a public interest director is in conflict with his role, the Board s decision shall be final. (11) For the purpose of this regulation, the procedure for appointment of directors is prescribed under Part C of the Second Schedule. ************** NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/125 dated 28-02-2023 (shall come into force on the one ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the Official Gazette) before it was read as, nominated 5. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/125 dated 28-02-2023 (shall come into force on the one hundred and eightieth day from the date of their publication in the Official Gazette) before it was read as, nominated - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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