1.2
Definition of "independent director"
(i)
Is there a difference between the definition of "officer" in sub-Rules (b) and (d) of the said definition of "independent director" in Chapter 1 of the ACE LR ("the said definition")?
Yes. For the purpose of sub-Rule (b) of the said definition, "officer" shall have the meaning set out in section 4 of the Companies Act 1965 whereas for the purpose of sub-Rule (d) of the said definition, "officer" has been defined in Rule 1.01 of the ACE LR to be the chief executive, the chief operating officer, the chief financial controller or any other person primarily responsible for the operations or financial management of an applicant, a listed corporation or its related corporation, by whatever name called.