[10C. Chairman and certain directors not to be required to hold qualification shares.--[A chairman of the Board of directors who is appointed on a whole-time basis or a managing director] of a banking company (by whomsoever appointed) and a director of a banking company (appointed by the Reserve Bank under section 10A) shall not be required to hold qualification shares in the banking company.]
Section 10C: Chairman and certain directors not to be required to hold qualification shares.
The Banking Regulation Act, 1949Central Act · Act 10 of 1949
Where this provision sits
| Act | The Banking Regulation Act, 1949 |
|---|---|
| Section | 10C |
| Marginal note | Chairman and certain directors not to be required to hold qualification shares. |
| Jurisdiction | Central |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted, Act 1 of 1984. . Subs. by Act 1 of 1984, s. 19, for section 10C (w.e.f. 15-2-1984).
- substituted, Act 20 of 1994. . Subs. by Act 20 of 1994, s. 4, for "A chairman" (w.e.f. 31-1-1994).
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