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<h1>Strict Rules for Depository Directors: Governance, Term Limits, and Conflict Prevention Under Regulation 25</h1> Regulation 25 of SEBI (Depositories and Participants) Regulations, 2018 governs the appointment and conditions for directors in depositories. It mandates prior Board approval for non-independent directors, specifies three-year terms for public interest directors with potential extension, limits directors to three terms across organizations, and imposes restrictions on simultaneous board memberships. The regulation ensures governance integrity by establishing cooling-off periods, conflict of interest disclosures, and remuneration guidelines for public interest directors.