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    Question

    According to the Securities and Exchange Board of India

    (Depositories and Participants) Regulations a public interest director on the board of a depository _____________
    A Shall not act simultaneously as director on the board of its subsidiary Correct Answer Incorrect Answer
    B Shall not act simultaneously as director on the board of any other depository or recognized stock exchange Correct Answer Incorrect Answer
    C Shall not act simultaneously as director on the board of subsidiary of any other depository or recognized clearing corporation Correct Answer Incorrect Answer
    D Shall act simultaneously as director on the board of its subsidiary or on the board of any other depository or recognized clearing corporation or on the board of recognized clearing corporation Correct Answer Incorrect Answer
    E Shall not act simultaneously as director on the board of its subsidiary or on the board of any other depository or recognized stock exchange or recognized clearing corporation or on the board of subsidiary of such other depository or recognized stock exchange or recognized clearing corporation Correct Answer Incorrect Answer

    Solution

    Regulation 25 Conditions of appointment of directors: (4) A  public interest  director on  the  board  of  a  depository shall  not act simultaneously as director on the board of its subsidiary or on the board of any other depository or recognized stock exchange  or  recognized  clearing  corporation  or on  the  board  of subsidiary  of  such other depository or recognized stock exchange or recognized clearing corporation.

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