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MANAPPURAM FINANCE LIMITED (MAIL) POLICY ON BOARD COMPOSITION AND COMPENSATION POLICYVersion Control Version Number Description Date Version 1 New Policy 03022015 Version 2 Renewal 12052023 Version
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The policy on board composition outlines the guidelines and requirements regarding the structure and diversity of a company's board of directors, including the number of members, their qualifications, independence, and representation of various stakeholders.
Publicly traded companies and certain regulated entities are typically required to file a policy on board composition, ensuring they meet governing regulations and standards.
To fill out the policy on board composition, companies should evaluate their current board structure, determine compliance with legal requirements, establish criteria for board member selection, and document these aspects in a formal policy format.
The purpose of the policy on board composition is to ensure that the board is effective, diverse, representative of stakeholders, and capable of overseeing the company’s strategies and operations while complying with regulatory requirements.
Information that must be reported includes the number and names of board members, their qualifications, the criteria for selection, diversity metrics, and how the board composition aligns with the company's strategic goals.
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