TMI BlogConditions of appointment of directorsX X X X Extracts X X X X X X X X Extracts X X X X ..... ised stock exchange or recognised clearing corporation shall be with the prior approval of the Board. (2) The public interest directors on the governing board of the recognised stock exchange(s) and the recognised clearing corporation(s) shall be 4 [ appointed with the prior approval of ] the Board. (3) Public interest directors shall be 5 [ appointed ] for a term of three years, exten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her that in case of a limited purpose clearing corporation, the maximum age limit shall be seventy years or as may be specified by the Reserve Bank of India or the Board from time to time. ] (4) A public interest directors on the board of a recognized stock exchange or a recognized clearing corporation shall not act simultaneously as director on the board of its subsidiary or on the board of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lic interest director. (7) No public interest director on the board of a recognized stock exchange or a recognized clearing corporation, shall become a director on the board of subsidiary of that recognized stock exchange or recognized clearing corporation, as the case may be, unless there is a cooling-off period of three years after ceasing to be a public interest director. (8) A public int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /GN/2022/93 dated 11-08-2022 before it was read as, . 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/93 dated 11-08-2022 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/124 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, shareholder directors 4. Subs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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