Clarification on the Term Limits of Independent Directors (IDs)
SEC Advisory • Securities and Exchange Commission • Advisories • Jul 20, 2015
Full text
July 20, 2015 SEC ADVISORY TO : All Listed, Public and Mutual Funds Companies SUBJECT : Clarification on the Term Limits of Independent Directors (IDs) Pursuant to SEC Memorandum Circular No. 9, Series of 2011, IDs elected in 2012 may be reelected as such for five (5) years, or until 2017, when the two (2)-year cooling off period shall commence. Mandaluyong City, July 20, 2015. (SGD.) TERESITA J. HERBOSA Chairperson
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.