Appointment, role and responsibilities of executive director

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....d Vertical 1 and Vertical 2 respectively and the depository may, at its discretion, appoint an executive director to head Vertical 3, as referred to in Fourth Schedule of these regulations. (2) The stature of executive directors shall be similar to that of the managing director. (3) The process of appointment, renewal of appointment and termination of services of the executive directors shal....

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....e following: a) management of whole of the affairs of their respective verticals; b) ensure that the functions under their respective verticals of the depository are operating in the interest of the securities market and are guided by public interest, without having any revenue oriented objectives; c) the executive director of Vertical 1 shall be responsible to ensure th....