Maximum number of directorships limited for listed and high value debt listed entities, with tighter caps for whole time directors.

Directors of entities with listed non convertible debt securities are subject to caps: a person may be a director in up to seven listed entities and serve as an independent director in up to seven, while a whole time or managing director may serve as an independent director in not more than three. The count aggregates equity listed entities and high value debt listed entities, excludes ex officio public sector and PPP statutory/contractual directorships, and must be complied with within six months of the amendment's Gazette publication or by the next AGM, whichever is later.

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