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    <title>The governing board of a recognized limited purpose clearing corporation shall include</title>
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    <description>Regulation 22C requires the governing board of a recognized limited purpose clearing corporation to include nominee directors, independent directors, a managing director and any other directors specified by the Reserve Bank of India or the Board. It permits a rotational representative of issuers of debt securities to be appointed and treated as a nominee director; that representative must be one of the top three public sector undertaking issuers by issue size in the preceding financial year.</description>
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