Any appointment or removal of a [director, chairman of the Board of directors who is appointed on a whole-time basis or managing director] in pursuance of section 10A or section 10B [or section 10BB] shall have effect and any such person shall not be entitled to claim any compensation for the loss or termination of office, notwithstanding anything contained in any law or in any contract, memorandum or articles of association.]
Section 10D: Provisions of sections 10A and 10B to override all other laws, contracts, etc.
The Banking Regulation Act, 1949Central Act · Act 10 of 1949
Where this provision sits
| Act | The Banking Regulation Act, 1949 |
|---|---|
| Section | 10D |
| Marginal note | Provisions of sections 10A and 10B to override all other laws, contracts, etc. |
| 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 20 of 1994. . Subs. by Act 20 of 1994, s. 5, for "director or chairman" (w.e.f. 31-1-1994). 2. . Ins. by Act 1 of 1984, s. 20 (w.e.f. 15-2-1984).
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