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SEBI has clarified that under Regulation 6(1) of the LODR Regulations, the term "one level below the board of directors" refers to the Compliance Officer's position being one level below Managing Directors or Whole-time Directors who serve on the board. This interpretation aligns with Regulation 2(1)(o) of LODR Regulations read with Section 2(51) of the Companies Act, 2013. For entities without a Managing Director or Whole-time Director, the Compliance Officer must be positioned no more than one level below the CEO, Manager, or equivalent leadership role overseeing daily operations. This clarification addresses implementation questions following the December 2024 amendment requiring Compliance Officers to be in whole-time employment and designated as Key Managerial Personnel.
SEBI has clarified that under Regulation 6(1) of the LODR Regulations, the term "one level below the board of directors" refers to the Compliance Officer's position being one level below Managing Directors or Whole-time Directors who serve on the board. This interpretation aligns with Regulation 2(1)(o) of LODR Regulations read with Section 2(51) of the Companies Act, 2013. For entities without a Managing Director or Whole-time Director, the Compliance Officer must be positioned no more than one level below the CEO, Manager, or equivalent leadership role overseeing daily operations. This clarification addresses implementation questions following the December 2024 amendment requiring Compliance Officers to be in whole-time employment and designated as Key Managerial Personnel.
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