What are the main compliance requirements under the Guidelines?
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- The need for a Board of Directors for each Licensee and for board Charter thereof,
- The need to separate the Board of Directors from the Chief Executive Officer of the Licensee,
- The need to establish Committees from the Board including Audit, Risk management, Human Resource, Finance,
- Obtain Authority approval before change of shareholding, and
- Submit to ERA an annual report with information on legal status, any changes thereof, directorship, URSB annual returns, financial and operating results and compliance with tax requirements.
