Public interest director governance requires approval, conflict disclosure, board-position restrictions, and cooling-off periods for bullion market institutions.

Appointment and re-appointment of non-independent directors require prior approval of the Authority. Public interest directors require prior approval, may serve renewable three-year terms subject to performance review, and must be below seventy-five years of age. They cannot hold simultaneous board positions with specified subsidiaries or other Market Infrastructure Institutions, must disclose conflicts involving services to trading or clearing members, and are subject to a three-year cooling-off period before becoming non-independent directors or directors of the relevant subsidiary.

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