Cooling-off period for director appointments limits immediate cross-appointments across exchanges and depositories with Board approval. Requires prior Board approval and introduction of a cooling-off period for cross-appointments of non-independent directors and public interest directors between recognized stock exchanges, recognized clearing corporations and depositories; permits a further three-year appointment for public interest directors only after such cooling-off period and with Board approval, with the cooling-off obligation limited to appointments to competing exchanges or clearing corporations and an explanation treating a clearing corporation subsidiary and its stock exchange as a single entity for this purpose.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cooling-off period for director appointments limits immediate cross-appointments across exchanges and depositories with Board approval.
Requires prior Board approval and introduction of a cooling-off period for cross-appointments of non-independent directors and public interest directors between recognized stock exchanges, recognized clearing corporations and depositories; permits a further three-year appointment for public interest directors only after such cooling-off period and with Board approval, with the cooling-off obligation limited to appointments to competing exchanges or clearing corporations and an explanation treating a clearing corporation subsidiary and its stock exchange as a single entity for this purpose.
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