CTHRepealedLegislation
Banking, Insurance and Life Insurance (prudential standards) determination No. 3 of 2011 - Prudential Standard CPS 510 - Governance
Subsidiaries of a parent that is not pruSubsidiaries of a parent that is not prudentially regulated
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Subsidiaries of a parent that is not prudentially regulated
- For a locally incorporated regulated institution that is a subsidiary of another entity not covered by the arrangements in paragraphs 29 to 31of this Prudential Standard, the Board must have a majority of independent directors. However, independent directors on the Board of the parent company or its other subsidiaries may also sit as independent directors on the Board of the regulated institution.