Singapore legislation
Regulation 13
Regulation 13
Responsibilities of Nominating Committee
Subregulation 1
The Nominating Committee of a bank incorporated in Singapore shall identify the candidates and review all nominations for the appointment of —
each director;
each member of each board committee;
the chief executive officer and deputy chief executive officer;
the chief financial officer; and
the chief risk officer,of the bank.
Subregulation 2
Subject to paragraph (3), the Nominating Committee shall determine the criteria to be applied in identifying a candidate or reviewing a nomination for the purposes of this Part.
Subregulation 3
The criteria to be applied in identifying a candidate or reviewing a nomination for the purposes of this Part shall include the following:
the appointment of the candidate or nominee will not result in non-compliance with the requirements under regulations 9(1), 10, 12(1), 16(1), 17(1) and 17A(1); and
the candidate or nominee is a fit and proper person for the office and is qualified for the office, taking into account the candidate’s or nominee’s track record, age, experience, capabilities, skills and such other relevant factors as may be determined by the Nominating Committee.
Subregulation 3A
The Nominating Committee shall review the reasons provided by each of the persons referred to in paragraph (1) for his resignation from his appointment in the bank.
Subregulation 4
The Nominating Committee shall maintain records of all its meetings.