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Doc having text with background color , while converting from doc to text.
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check below paragraph
3.2.2
A licensee’s board should be ultimately responsible for the sound and
prudent management of a licensee’s SVF business operations. As
such, the responsibilities, organization, functioning, and composition of
the licensee’s board of directors must be clearly defined and
documented.
Guideline
3.2.3
The board should have an adequate number and appropriate
composition of members to ensure sufficient checks and balances and
collective expertise for effective, objective decision-making. The size
and composition of the board will vary from institution to institution
depending on the size and complexity of the licensee and the nature
and scope of its activities. As a general benchmark for demonstrating
sufficiency of checks and balances, normally one-third of their board
members should be independent non-executive directors (INED).
Guideline
3.2.5
Whilst the board is ultimately responsible for the overall soundness of
a licensee, the appointment of competent management is key to
achieving the objective of a soundly and efficiently run licensee. The
board works with a senior management team (senior management) to
achieve this and senior management remains accountable to the
board.
Like wise there are paragraph.