Disqualification for re-election bars former governing board members after supercession; exchanges must amend rules and notify members. Where a Governing Board has been superseded for governance failures, members who were on the Governing Board at the time of supercession shall be disqualified from re election to the Governing Board for two years from the date of expiry of the order of supercession. Stock exchanges must amend their rules to provide for this disqualification, notify and disseminate the provision to members, and report implementation status in the Monthly Development Report.
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Provisions expressly mentioned in the judgment/order text.
Disqualification for re-election bars former governing board members after supercession; exchanges must amend rules and notify members.
Where a Governing Board has been superseded for governance failures, members who were on the Governing Board at the time of supercession shall be disqualified from re election to the Governing Board for two years from the date of expiry of the order of supercession. Stock exchanges must amend their rules to provide for this disqualification, notify and disseminate the provision to members, and report implementation status in the Monthly Development Report.
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