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TMI BlogComposition of the governing boardX X X X Extracts X X X X X X X X Extracts X X X X ..... anaging director. (2) Subject to prior approval of the Board, the chairperson shall be elected by the governing board from amongst the public interest directors. (3) The number of public interest directors shall not be less than the number of 1[non-independent directors] on the governing board of a Depository. (4) The number of public interest directors shall not be less than the number of 1[no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o depository participant or their associates and agents, irrespective of the depository of which they are members, shall be on the governing board of a depository. (10) A person who is a director in an entity, that itself is a depository participant or has associate(s) as depository participant, he/she will be deemed to be a depository participant: Provided a person shall not be deemed to be De ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lfillment of other requirements and satisfaction of the Board. (12) Depository shall monitor and ensure the compliance of sub-regulation 9 on continuous basis, to ensure that directors appointed, on their governing board, do not get associated with Depository Participant after approval and appointment. (13) No foreign portfolio investor shall have any representation in the governing board of a d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs with qualification and experience as specified at clause (a) above.] ************ NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/125 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" 2. Inserted vide Notification No. SEBI/LAD-NR ..... X X X X Extracts X X X X X X X X Extracts X X X X
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