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of <h1>Directors' Appointment Rules Tighten Governance, Limit Board Positions and Mandate Transparency in Financial Institutions</h1> The statutory provisions outline conditions for appointing directors in stock exchanges and clearing corporations. Non-independent directors require prior board approval. Public interest directors are appointed for three-year terms, extendable once, with a maximum of three terms across organizations. Directors face restrictions on simultaneous board positions, must disclose conflicts of interest, and are limited to specific remuneration. The regulations aim to ensure governance, independence, and prevent potential conflicts in financial market institutions.
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