Regulatory Alerts2018-05-02
Added · Updated
The Companies (Manner and Selection of Independent Directors) Regulations, 2018
These regulations establish the framework for creating and maintaining a databank of independent directors by notified institutes, requiring the collection of specific personal and professional details. Eligibility for inclusion mandates either a recognized graduate degree with five years of relevant experience or fifteen years of work experience in fields such as finance, law, or management. The rules prohibit individuals with criminal convictions, debarments, or involvement in financial misconduct from entering the databank and require companies to exercise due diligence and obtain undertakings from selected directors.
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