China Banking and Insurance Regulatory Commission, Measures for the Administration of the Independent Directors of Insurance Institutions
中国银行保险监督管理委员会保险机构独立董事管理办法
September 20, 2018 | BY
Susan MokInsurance companies are required to include independent directors.
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Issued: June 30 2018
Effective: as of date of issuance
Applicability: For the purposes of these Measures, the term “independent director” means a director who does not assume any position with the insurance institution that he/she is serving other than as director and he/she does not have any relationship with the insurance institution's shareholders or de facto controller that could affect his/her independent and objective judgment on the company's affairs (Article 2).
Where laws or regulations provide otherwise on independent directors of listed insurance institutions, such provisions shall prevail (Article 54).
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