The Bombay Stock Exchange (BSE) on March 14, 2024, issued clarification on frequency of meetings of Nomination and Remuneration Committee for Qualified Stock Brokers (QSBs) with reference to Exchange Notice no. 20230601-54 dated June 01, 2023.
Clause 8.1.1 to 8.1.3 of Annexure A of the aforesaid circular states that “A minimum number of 4 meetings of its Board of Directors /Committee of the Board is required to be held every financial year in such a manner that not more than 120 days shall intervene between two consecutive meetings of the Board”.
The Exchange has received the representations from QSBs on frequency of meetings of Nomination and Remuneration Committee (NRC). Based on these representations, the Exchange, in joint consultation with Other Exchanges and SEBI, hereby clarifies that “The Nomination and Remuneration Committee shall meet at least once a year or as and when events as specified in the aforesaid Exchange circular occur which mandate the conduct of the meeting”.
[Notice No. 20240314-17]
