(1) The depository shall constitute the committees as per sub-regulation (2) and subregulation (3).
(2) Functional committee, comprising of:
(a) Member 1[*] committee;
(b) 2[*] grievance redressal committee; and
(c) Nomination and remuneration committee.
(3) Oversight committees, comprising of:
(a) Standing committee on technology;
(b) Advisory committee;
(c) Regulatory oversight committee; and
(d) Risk management committee.
1 Omitted by the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2019 w.e.f. 04-06-2019. Prior to its omission, it read as “selection”.
2 Omitted by the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2019 w.e.f. 04-06-2019. Prior to its omission, it read as “Investor”.
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(4) The composition, quorum and functions of the committees under sub-regulation (2) and sub-regulation (3) shall be in the manner as specified by the Board from time to time.
Disclosure and corporate governance norms