Composition of Board of Directors

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..... provide for the following: - (a) There shall be a Board of Directors of the Self Regulatory Organization and majority of directors shall be independent directors. (b) The independent directors shall not be required to hold any qualification shares. (c) The Board of Directors shall consist of nine directors out of which five directors shall be nominated by the Board and the remaining four sh .....

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..... in order to carry out the purposes of these regulations: Provided that the committees constituted under this regulation may consist wholly of other persons or partly of directors and partly of other persons: Provided further that the majority of members of each such committee shall be independent. (h) The office bearers of Board of Directors shall relinquish their office, when the Board pass .....

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