The Central Government has notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2022 whereby the Board has made certain amendments to the regulations.
The notification omitted sub-regulation (1B) in regulation 17 in the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Further, in Schedule II, in PART E, after clause C, the following shall be inserted, namely, – “D. Separate posts of Chairperson and the Managing Director or the Chief Executive Officer The listed entity may appoint separate persons to the post of the Chairperson and the Managing Director or the Chief Executive Officer, such that the Chairperson shall (a) be a non-executive director; and (b) not be related to the Managing Director or the Chief Executive Officer as per the definition of the term “relative” defined under the Companies Act, 2013.
The amendment shall come into force with effect from 24th March 2022.
NOTIFICATION NO: F. No. SEBI/ LAD-NRO/GN/2022/76
DATE: 22nd March, 2022
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