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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