To ensure that SC Board Members are independent when discharging their functions, the SCMA also clearly provides that no person shall be appointed as a Board Member or remain as one if he -

• Is or becomes a full-time officer of any public listed company*.
• Is or becomes an officer or director of an entity that is licensed, registered, recognised or approved under the securities laws, whether as an executive or non-executive role in a full-time or part-time capacity
• Is or becomes a member of the Senate or House of Representatives, or any Legislative Assembly
• Has been convicted of a criminal offence involving fraud, dishonesty, corruption or violence
• Is or becomes bankrupt or suspends payment or compounds with creditors
• Is or becomes involved in any activity that may interfere with his independence in discharging his functions

In this regard, subject to the SC Board’s prior approval, an SC Board Member may accept appointments to public listed companies, Statutory Body or agency or any government-owned companies so long as it would not interfere with his or her independence in discharging his or her functions as an SC Board Member or becomes involved in any activity that would compromise his or her independence.