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of <h1>SEBI Revises Board Structure for Clearing Corporations, Mandates Dispute Resolution, and Sets Director Age Limits Under 2018 Regulations.</h1> The Securities and Exchange Board of India (SEBI) issued amendments to the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, effective upon publication in the Official Gazette. Key changes include the restructuring of the governing board of recognized limited purpose clearing corporations to include nominee, independent, and managing directors, with issuer representatives of debt securities appointed on a rotational basis. A dispute resolution mechanism is mandated, and compliance with SEBI and Reserve Bank of India directions is required. The amendments also specify age limits for directors and streamline the appointment process for managing directors.
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