Securities And Exchange Board Of India - Subsection
Section 26(3) in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
(3)The appointment of the managing director shall be for a term not exceeding five years:Provided that post the completion of first term as Managing Director, the depository shall conduct the appointment process afresh:Provided further that a person may be appointed as Managing Director by the depository for a maximum of two terms not exceeding five years each subject to a maximum age limit of sixty five years.
