The governing board of a recognized limited purpose clearing corporation shall include

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..... ndependent directors; (c) managing director; and (d) such other directors as may be specified by the Reserve Bank of India or the Board from time to time. (2) The representative of the issuers of debt securities may be appointed on the governing board of the recognized limited purpose clearing corporation on a rotational basis and such a director shall be deemed to be a nominee director. .....

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..... l be deemed to be a shareholder director. Explanation. - For the purpose of this sub-regulation, representative of issuers of debt securities during a financial year shall be one amongst the top three issuers, which are public sector undertakings, based on their issue size in the preceding financial year. ] - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regula .....

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