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CS Professional · Compliance Management, Audit and Due Diligence · Documentation and Maintenance of Records

A compliance officer asks who decides the details of how persons willing to act as independent directors are recorded in the data bank. Under Section 150(3), the data bank creates and maintains data of such persons

The data bank creates and maintains data of persons willing to act as independent directors in accordance with such rules as may be prescribed, as stated in Section 150(3). It is neither discretionary for the maintaining body nor governed by an individual company's articles.

  1. Ain accordance with such rules as may be prescribedCorrect
  2. Bat its own discretion, without any prescribed rules
  3. Cas directed by each appointing company
  4. Das per the articles of association of the appointing company

Explanation

Section 150(3) states that the data bank shall create and maintain data of persons willing to act as independent directors in accordance with such rules as may be prescribed. It is not left to the body's discretion or to company articles.

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