Singapore legislation
Regulation 10
Regulation 10
Responsibilities of Nominating Committee
Subregulation 1
The Nominating Committee of a DFHC (Bank) must identify the candidates and review all nominations for the appointment of the following persons of the DFHC (Bank):
each director;
each member of the Executive Committee mentioned in regulation 7 and each committee mentioned in regulation 8(1)(a) to (d);
the chief executive and deputy chief executive;
the chief financial officer;
the chief risk officer.
Subregulation 2
Subject to paragraph (3), the Nominating Committee must 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 must include the following:
the appointment of the candidate or nominee will not breach regulations 5(1), 7, 9(1), 14(1), 15(1) and 16(1);
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 any other relevant factors that may be determined by the Nominating Committee.
Subregulation 4
If any of the persons mentioned in paragraph (1) resigns from his or her appointment in the DFHC (Bank), the Nominating Committee must review the reasons provided by the person for his or her resignation.
Subregulation 5
The Nominating Committee must maintain records of all its meetings.