Director appointments in bullion market infrastructure require prior approval, impose tenure, conflict disclosure, and cooling-off restrictions.

Appointments and reappointments of non-independent directors, and appointments of public interest directors, to bullion exchange and bullion clearing corporation governing boards require prior approval of the Authority. Public interest directors have a renewable three-year term subject to performance review and an age-based eligibility limit. They are subject to restrictions on concurrent board positions, conflict disclosure obligations, and a three-year cooling-off period before becoming non-independent directors or joining the relevant subsidiary's board. Appointment applications must follow the prescribed Schedule I procedure.

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