QUALIFICATION FOR MEMBERSHIP OF THE BULLION EXCHANGE OR BULLION CLEARING CORPORATIONInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
QUALIFICATION FOR MEMBERSHIP OF THE BULLION EXCHANGE OR BULLION CLEARING CORPORATIONInternational Financial Services Centres Authority (Bullion Market) Regulations, 2025
Regulation 27 - Managing Director of a Bullion Exchange or Bullion Clearing Corporation
International Financial Services Centres Authority (Bullion Market) Regulations, 2025 Chapter VII GOVERNANCE OF BULLION EXCHANGE AND BULLION CLEARING CORPORATION
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Managing director governance requires prior approval for appointment changes, with tenure, independence, and removal safeguards. Appointment, renewal, removal, termination and compensation of a managing director require prior approval of the Authority. Service is limited to terms of ... Summary
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International Financial Services Centres Authority (Bullion Market) Regulations, 2025
Managing director governance requires prior approval for appointment changes, with tenure, independence, and removal safeguards.
Appointment, renewal, removal, termination and compensation of a managing director require prior approval of the Authority. Service is limited to terms of no more than five years, with a fresh appointment process after the first term, an aggregate maximum tenure of ten years, and a maximum age of sixty-five years. Independence restrictions prohibit specified shareholder, member and associated-entity interests or positions. Removal for non-compliance requires governing board action and prior approval, while the managing director must receive an opportunity of being heard before removal or termination.
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