Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Regulation 25 caps managing director tenure, mandates Board approval and independence, prioritising public interest over exchange profits</h1> Regulation 25 mandates that appointment, renewal, and termination of the managing director of a recognised stock exchange or clearing corporation require prior approval of the Board. The entity sets qualifications, terms, and procedures within Board guidelines, with each term not exceeding five years and total tenure capped at ten years or age sixty-five. The managing director must be independent of shareholders, trading or clearing members, and associated entities, with limited permitted non-executive roles. The managing director manages overall affairs, compliance, risk management, and infrastructure adequacy, and must prioritize public interest over revenue objectives. Removal requires Board approval or Board action, with an opportunity of being heard.
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