Chapter V - RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS, MANNER OF SURRENDER OF CERTIFICATE OF SECURITY AND CREATION OF PLEDGE OR HYPOTHECATION (From Regulation 26 to Regulation 58C)
Compensation committee rules require public-interest majority and board-approved policies to govern key management pay and tenure. Regulation requires a compensation committee with a majority of public interest directors, chaired by a public interest director, to determine key management personnel compensation pursuant to a compensation policy that conforms to Board-specified norms. Managing director compensation must be Board-approved and not changed without prior Board approval. Compensation must be disclosed in the depository's report under the Companies Act. Tenure of key management personnel other than directors is a fixed period determined by the compensation committee.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Compensation committee rules require public-interest majority and board-approved policies to govern key management pay and tenure.
Regulation requires a compensation committee with a majority of public interest directors, chaired by a public interest director, to determine key management personnel compensation pursuant to a compensation policy that conforms to Board-specified norms. Managing director compensation must be Board-approved and not changed without prior Board approval. Compensation must be disclosed in the depository's report under the Companies Act. Tenure of key management personnel other than directors is a fixed period determined by the compensation committee.
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