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    Question

    What is the cooling-off period required for a public

    interest director to become a non-independent director after ceasing to be a public interest director, as per Regulation 24 of Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018?
    A One year Correct Answer Incorrect Answer
    B Two years Correct Answer Incorrect Answer
    C Three years Correct Answer Incorrect Answer
    D Four years Correct Answer Incorrect Answer
    E There is no cooling-off period required Correct Answer Incorrect Answer

    Solution

    As per Reg 24(6)-No public interest director shall become a 54[non-independent directors]unless there is a cooling-off period of three years after ceasing to be a public interest director.

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