Nomination and Remuneration Committee requirements mandate independent non executive directors and a disclosed remuneration policy for senior management. The provision requires listed and prescribed companies to form a Nomination and Remuneration Committee of at least three non-executive directors with a majority independent directors to identify and recommend Board and senior management appointments, evaluate director performance, and formulate criteria for director qualifications and independence. The committee must recommend a disclosed remuneration policy for directors, key managerial personnel and other employees that balances fixed and incentive pay and links pay to performance. A Stakeholders Relationship Committee is required to resolve security-holder grievances and its chair or authorised member must attend general meetings; specified penalties apply for contraventions.