Section 41: Defects in appointment not to invalidate acts, etc.

The Deposit Insurance and Credit Guarantee Corporation Act, 1961Central Act · Act 47 of 1961

(1) No act or proceeding of the Board or of any committee of the Corporation shall be questioned on the ground merely of the existence of any vacancy or defect in the constitution of the Board or committee.

(2) No act done by any person acting in good faith as a director of the Board shall be deemed to be invalid merely on the ground that he was disqualified to be a director or that there was any other defect in his appointment.

Where this provision sits

Act	The Deposit Insurance and Credit Guarantee Corporation Act, 1961
Section	41
Marginal note	Defects in appointment not to invalidate acts, etc.
Jurisdiction	Central
Status	In force as published by the source

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