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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI mandates Market Infrastructure Institutions to form seven committees with majority Public Interest Directors under 2018 rules</h1> Market Infrastructure Institutions (MIIs) including stock exchanges, clearing corporations, and depositories are required to constitute seven statutory committees categorized as functional and oversight committees, as per SEBI regulations of 2018. These committees must have a majority of Public Interest Directors (PIDs), who shall chair the committees and hold casting votes. Quorum and voting require PID participation equal to or exceeding other members. Independent external persons may be appointed with specified qualifications and tenure limits. Newly recognized stock exchanges and clearing corporations may commence operations with reduced minimum members. MIIs must adhere to prescribed committee compositions, meet PID attendance and reporting obligations, and comply with amended regulatory provisions. Confirmation of compliance must be submitted to SEBI within three months. The circular repeals prior related circulars and mandates MIIs to update bylaws, inform members, and report implementation status to SEBI.
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