TaxTMI 
TaxTMI 
Composition of the Governing Board
X X X X Extracts X X X X
X X X X Extracts X X X X
....llion clearing corporation shall adopt the broader principles of governance prescribed by International Organization of Securities Commissions (IOSCO) and Principles for Financial Market Infrastructures (PFMIs) and such other governance norms as may be specified by the Authority. (2) The governing board of every bullion exchange and bullion clearing corporation shall include: (i) non-i....
X X X X Extracts X X X X
X X X X Extracts X X X X
....re, or their associates and agents, irrespective of the bullion exchange or bullion clearing corporation of which they are members, shall be on the governing board. (8) For the purposes of sub-regulation (7), a person who is a director in an entity, which is a trading member or clearing member or has associate(s) as trading member(s) or clearing member(s), shall be deemed to be a trading member....
X X X X Extracts X X X X
X X X X Extracts X X X X
....or shall be subject to the fulfillment of other conditions as may be specified by the Authority. (10) A bullion exchange and bullion clearing corporation, shall monitor and ensure the compliance of sub-regulation (7) on a continuous basis, to ensure that directors appointed, on their governing board do not get associated with trading member or clearing member. (11) The number of public inter....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... markets, securities markets, finance and accountancy, legal and regulatory practice, technology, risk management or, management or administration: Provided that the governing board of the bullion exchange and bullion clearing corporation shall consist of at least one public interest director having the requisite qualification and experience in each of the areas of bullion markets, securities m....