FRDI Bill, 2016 - Criteria for reappointment of members
Q. Which of the following is/are true regarding the members of the Board of the proposed Resolution Corporation?
1) The ex-officio members cannot be Chairperson of the Board.
2) If not an ex-officio member, a person cannot be a Chairperson or member if he/she has been already appointed twice as a member of the Board.- Published on 03 Nov 16a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
ANSWER: Both 1 and 2
The ex-officio members are different from a Chairperson. The Chairperson need not be of the institute which nominate the ex-officio members. A person is disqualified from being appointed as the Chairperson or whole-time member of the Board, other than as an ex officio member, if at the time of appointment such person.
- Has been appointed twice as a member of the Board;
- Will not be able to serve a term of at least three years before reaching the age of retirement; and
- Holds or has held, in three years preceding such appointment, any position which is likely to conflict with his or her duties as a member of the Board.
