1.2
Definition of "independent director"
(xii)
Mr X will receive remuneration from the listed corporation for services rendered to the listed corporation as a director. Would Mr X be disqualified from being an independent director pursuant to sub-Rule (g) of the said definition, for receiving remuneration from the listed corporation, particularly if the remuneration exceeds the said Threshold?
No, the receipt of remuneration for services rendered to the listed corporation as a director would not constitute a “transaction” for the purposes of sub-Rule (g) of the said definition.