2  BIS Review 49/2004  9. While most of the elements of the draft guidelines in case of directors have been implemented already, the provision relating to the desirable practice of having not more than one member of family close relative or associate on the Board of a bank is yet to be introduced. 10.
All transition arrangements for compliance with the guidelines for existing holdings will be subject to submission of time bound action plans by the concerned banks. The intention as already indicated will be to move towards the desired objectives in as non-disruptive a manner as possible. 11.