SRI CSE Director Age Limit Deadline

Updated on: Jan 6, 2025

Latest Event


  • Jan. 2025 Editorial Update
  • On Jan. 6, 2025, Reg-Track added SRI SEC as a regulator and added a document link.

On Dec. 31, SRI CSE publicized SEC directive re director age limit.

  • SRI CSE issued SRI SEC's directive (dated Dec. 30, 2024) extending implementation deadline for SRI CSE listing rule 9.1.4(1) regarding director independence criteria.
  • Follows SRI SEC Jul. 2023 proposed revising rules regarding listed firms, #180017.
  • Effective Date Extension
  • The effect of the directive is to grant a two-month extension applying to rule 9.8.3(ix) stating directors aged 70 or above cannot be considered independent.
  • Original effective date of Jan. 1, 2025 is extended by two months, based on requests.
  • Jan. 2025 Editorial Update
  • On Jan. 6, 2025, Reg-Track added SRI SEC as a regulator and added a document link.
Regulators
SRI CSE; SRI SEC
Entity Types
B/D; Corp; Exch
Reference
Cir 12/2024, 12/31/2024; Dir SEC/DG/2024/12/243, 12/30/2024
Functions
Compliance; C-Suite; HR; Legal
Countries
Sri Lanka
Category
State
N/A
Products
Corporate
Rule Type
Final
Regions
AP
Rule Date
Dec 31, 2024
Effective Date
Mar 1, 2025
Rule ID
239031
Linked to
Reg. Last Update
Dec 31, 2024
Report Section
International