The Philippine Stock Exchange (PSE) has proposed five amendments to its by-laws ahead of its annual shareholders' meeting. Among the proposed changes is the deletion of a clause that prohibits the board of directors from engaging in contracts that exceed 15% of a company's total assets without obtaining approval from two-thirds of shareholders. Another proposed change is the requirement that a third of the board of directors should comprise independent directors, aligning with existing rules and regulations of the PSE. The third proposal seeks to delete the clause that restricts a trading participant from intervening, direct or indirect, in the management, operation, administration, and control of any other trading participant. The PSE's board of directors will present these proposed amendments to shareholders during its annual meeting on August 5.