While assessing the competency for the position of Board of Director, a capital market licensee should give due weightage to relevant experience and expertise of the applicant. The applicant should demonstrate clear understanding of the licensee’s business and his/her ability to exercise strategic oversight over the business operations. In case where an applicant does not fulfil the educational qualification and minimum experience requirement stipulated in Appendix TC-1 (Board member/Director), the capital market licensee may still consider the applicant for appointment provided the applicant demonstrates:
(a) clear understanding of the licensee’s business operations;
(b) ability to provide objective views to the Board on issues of strategy, business performance, risk management, financial control and other matters which has a bearing on the licensee’s performance;
(c) leadership ability or has previously operated in a leadership position.
Added: January 2022
