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
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Managing director independence requires regulatory approval, fixed tenure, conflict restrictions, and hearing before market-interest removal. Prior approval of the Authority governs the appointment, renewal, removal or termination of a managing director, including compensation and any change to ... Summary
Managing director independence requires regulatory approval, fixed tenure, conflict restrictions, and hearing before market-interest removal.
Prior approval of the Authority governs the appointment, renewal, removal or termination of a managing director, including compensation and any change to compensation terms. Appointments are limited to five years per term, require a fresh process after the first term, and cannot exceed ten years in total or continue beyond sixty-five years of age. Shareholding, member-related and concurrent-position conflicts are prohibited. Removal for non-compliance requires prior Authority approval, while Authority-initiated removal or termination requires an opportunity of being heard.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.