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TMI BlogConditions of appointment of directorsX X X X Extracts X X X X X X X X Extracts X X X X ..... The public interest directors on the governing board of a depository shall be 2[appointed with the prior approval of] the Board. (3) Public interest directors shall be 3[appointed] for a term of three years, extendable by another term of three years, subject to performance review in the manner as may be specified by the Board: Provided that post the expiry of term(s) at a depository, a public ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d stock exchange or recognized clearing corporation. (5) A public interest director on the board of a depository shall not act simultaneously as member on more than five committees of that depository. (6) A public interest director on the board of a depository shall keep its governing board apprised of any conflict of interest, which may arise as a result of the public interest director providin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le, the Board's decision shall be final. (11) For the purpose of this regulation, the procedure for appointment of directors is prescribed under Part C of the Second Schedule. ************** 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 Gazett ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. 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, "nominated" 6. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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