Regulation 31 - Risk management committee of a clearing corporation. - Securities Contracts (Regulation) (Stock Exchanges And Clearing Corporations) Regulations, 2012

Risk management committee of a clearing corporation. 31. (1) Every recognised clearing corporation shall constitute a risk management committee, comprising its public interest directors and independent external experts, which shall report to the governing board. (2) The risk management committee shall formulate a detailed risk management policy which shall be approved by the governing board. (3) The head of the risk management department shall be responsible for implementation of the risk management policy and he shall report to the risk management committee and to the managing director of the recognised clearing corporation. (4) The risk management committee shall monitor implementation of the risk management policy and keep the Board and the governing board informed about its implementation and deviation, if any.