RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS, MANNER OF SURRENDER OF CERTIFICATE OF SECURITY AND CREATION OF PLEDGE OR HYPOTHECATION - Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS, MANNER OF SURRENDER OF CERTIFICATE OF SECURITY AND CREATION OF PLEDGE OR HYPOTHECATION - Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
Managing Director of depository: Board approval for appointment, term limits, disqualifications, removal, and core compliance duties. Regulation 26 requires Board approval for appointment, renewal and termination of a depository's Managing Director; sets five year appointment terms with ... Summary
Managing Director of depository: Board approval for appointment, term limits, disqualifications, removal, and core compliance duties.
Regulation 26 requires Board approval for appointment, renewal and termination of a depository's Managing Director; sets five year appointment terms with a cumulative ten year cap and an age limit of sixty five; prescribes disqualifications regarding shareholding and concurrent positions; allows specified non executive public or educational board roles with approval; permits removal by the governing board with Board approval or directly by the Board after hearing; and assigns core duties including overall management, regulatory compliance, risk management, and ensuring adequate infrastructure.
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