Financial Holding Companies (Corporate Governance of Designated Financial Holding Companies with Bank Subsidiary) Regulations 2022
Table of Contents
Enacting Formula
Part 1 PRELIMINARY
1 Citation and commencement
2 Definitions
Part 2 REQUIREMENTS FOR DESIGNATED FHC WITH BANK SUBSIDIARY
3 Independence from management and business relationships
4 Independence from substantial shareholder
5 Board
6 Separation of roles
7 Executive Committee
8 Committees of Board
9 Nominating Committee
10 Responsibilities of Nominating Committee
11 Determination of independence of directors and assessment of qualification
12 Alternative determination of independence by Nominating Committee
13 Providing information to Authority by DFHC (Bank)
14 Remuneration Committee
15 Audit Committee
16 Risk Management Committee
17 Approval of Authority for certain appointments
18 Executive officers
19 Corporate governance requirements applicable to major stake financial company
20 Exceptions to applicability of provisions to DFHC (Bank)