Director appointment procedure: depositories must forward new director nominations well before the incumbent Managing Director's last working day. The amendment removes the words 'selection' and 'investor' from regulation 30(2) clauses (a) and (b), requires that the depository forward new names to the Board before two months from the last working day of the existing Managing Director, and inserts enumerated sub headings (I)-(V) in SECOND SCHEDULE, PART C to clarify procedure and director categories.