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ASIC CS Services Rules 2025
2.1.1 Board composition2.1.1 Board composition
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2.1.1 Board composition
(1) A Covered Licensee’s board must be comprised of at least 50% non-executive directors who are independent of its ultimate holding company.
(2) A quorum of a Covered Licensee’s board must be able to be formed by the non-executive directors referred to in subrule (1).
(3) An Associated Entity of a Covered Licensee that controls a Covered Licensee must ensure a Covered Licensee’s compliance with subrules (1) and (2).