SEBI has issued a Consultation Paper on provisions pertaining to appointment of Public Interest Directors. This paper seek public comments on various proposals connected with the process adopted by SEBI for appointment of Public Interest Directors (PIDs)on Stock exchanges, Clearing Corporations and Depositories (collectively herein referred to as “Market Infrastructure Institutions” or “MIIs”), and for improving the ease of doing business for PIDs. The suggestion relating to the appointment process aims to achieve better shareholder participation in the appointment process of PIDs. For improving ease of doing business for PIDs, the proposals include easing documentation requirement when being considered for PID appointment, allowing payment of fixed stipend to PIDs in addition to sitting fees, and reducing cooling off period for appointment of PIDs.
Comments may be sent to the following, latest by September 12, 2024 via online web-based platform.
