Conditions of appointment of directors

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... approval of the Board, only after a cooling-off period as may be specified by the governing board of such recognized stock exchange or recognized clearing corporation.] (2) The public interest directors on the governing board of the recognised stock exchange(s) and the recognised clearing corporation(s) shall be 4[appointed with the prior approval of] the Board. (3) Public interest directors shall be 5[appointed] for a term of three years, extendable by another term of three years, subject to performance review in the manner as may be specified by the Board: 9[Provided that upon the expiry of the term(s) at the recognized stock exchange or the recognized clearing corporation, a public interest director may be appointed with the pri....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nge, both the entities shall be treated as a single entity.] (4) A public interest directors on the board of a recognized stock exchange or a recognized clearing corporation shall not act simultaneously as director on the board of its subsidiary or on the board of any other recognized stock exchange or recognized clearing corporation or depository or on the board of subsidiary of such other recognized stock exchange or recognized clearing corporation or depository. (5) A public interest director on the board of a recognized stock exchange or a recognized clearing corporation shall keep its governing board apprised of any conflict of interest, which may arise as a result of the public interest director providing services, either directly o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....BI/LAD-NRO/GN/2022/93 dated 11-08-2022 before it was read as, "." 2.  Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/93 dated 11-08-2022 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/124 dated 28-02-2023 (shall come into force on the one hundred and eightieth day from the date of their publication in the Official Gazette) before it was read as, "shareholder directors" 3A. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/124 dated 28-02-2023 (shall come into force on the one hundred and eightieth day from the date of their publication in the Official Gazette) before it was read as, "shareholder directors" 4. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/124 dat....