Key management personnel compensation requires board-approved policy, malus and clawback mechanisms, committee determination, and regulatory intimation for managing director changes.

Recognised market infrastructure institutions must constitute a Nomination and Remuneration Committee to determine key management personnel compensation under a governing board-approved compensation policy. The policy must include malus and clawback arrangements. Compensation payable to the managing director, and each change to it, must be intimated to the Authority.

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