Public interest directors nomination: Board controls nomination, term, conflict resolution, cooling-off and sitting fee limits.

Regulation 9B centralises governance of director appointments on a depository board: shareholder directors require prior Board approval for appointment and reappointment; public interest directors are nominated by the Board for a standard three year term subject to retirement and reappointment, with potential extension and a Board-determined cooling-off period before renomination. The Board's decision is final on conflicts between a public interest director's outside assignment and role. Remuneration for public interest directors is restricted to sitting fees under the Companies Act, 1956.

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