Bell Rock glossary
Independent Director
A director appointed to exercise objective judgement and oversee governance, conflicts and service providers independently of management.
An independent director exercises objective judgement in overseeing an entity, including its conflicts, valuation arrangements, liquidity and service providers. Independence must be assessed against actual relationships with the manager and other parties, rather than a job title alone. The Directors Registration and Licensing Act applies to directors of covered entities; private-fund registration alone does not bring a director within that regime. Board composition should reflect the entity’s structure, risks and applicable governance requirements.
Related guidance
Side Letter · Offering Memorandum
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