Composition of the Governing Board.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... shall be citizens of India and shall be residents in India. (2) The managing director shall not be considered either an independent director or a shareholder director. (3) Any employee of an information utility may be appointed as a director on its Governing Board in addition to the managing director, but such director shall be deemed to be a shareholder director. (4) The number of independ .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t a member of the Board of Directors of any of the shareholders holding more than ten per cent. of the share capital of the information utility. (6) An independent director shall be nominated by the Board from amongst the list of names proposed by the information utility. (7) An individual may serve as an independent director for a maximum of two terms of three years each or part thereof, or u .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... g and such disclosure shall be recorded in the proceedings of the Governing Board or the Committee, as the case may be, and the director shall not take part in any deliberation or decision of the Governing Board or the Committee with respect to that matter.] ******************** Notes:- 1. Inserted vide Notification No. IBBI/2017-18/GN/REG016. Dated 29-09-2017 2. Substituted vide Notification .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X