Compliance officer position clarified: must be whole time, KMP and no more than one level below top management. Clarification that the Compliance Officer must be a whole-time employee and designated as a Key Managerial Personnel, and must be positioned no more than one organisational level below the board-interpreted as one level below the Managing Director or Whole time Director(s). Where no Managing Director or Whole time Director exists, the Compliance Officer must be no more than one level below the person heading day to day management (e.g., Chief Executive Officer or Manager).