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    <title>Conditions of appointment of Directors</title>
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    <description>Appointments and reappointments of non-independent directors, and appointments of public interest directors, to bullion exchange and bullion clearing corporation governing boards require prior approval of the Authority. Public interest directors have a renewable three-year term subject to performance review and an age-based eligibility limit. They are subject to restrictions on concurrent board positions, conflict disclosure obligations, and a three-year cooling-off period before becoming non-independent directors or joining the relevant subsidiary&#039;s board. Appointment applications must follow the prescribed Schedule I procedure.</description>
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      <description>Appointments and reappointments of non-independent directors, and appointments of public interest directors, to bullion exchange and bullion clearing corporation governing boards require prior approval of the Authority. Public interest directors have a renewable three-year term subject to performance review and an age-based eligibility limit. They are subject to restrictions on concurrent board positions, conflict disclosure obligations, and a three-year cooling-off period before becoming non-independent directors or joining the relevant subsidiary&#039;s board. Appointment applications must follow the prescribed Schedule I procedure.</description>
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