HC-1.2.11
Past version: Effective from 01 Apr 2008 to 31 Dec 2010
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In assessing independence, the CBB will take into account whether the person concerned is (or has been):
(a) A controller or representative of the controller of the licensee (see Chapter GR-5 for the definition of controller );
(b) A business partner or first-degree relative of an employee or of a Board member of the licensee concerned, or of a member of the group of which the licensee is a member;
(c) A professional adviser to the licensee or the group of which it is a member; and
(d) Free of any significant contractual or business relationship with the licensee, or of any of the members of a group of which it is a member.
Adopted: April 2008