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Section 10: In section 8 of the principal Act, for the proviso, the following proviso shall be substituted, namely

The Industrial Development Bank of India (Amendment) Ordinance, 1994.Ordinance · 1994

"Provided that no fees shall be payable to the chairman, if he is appointed whole-time, or to the managing director or to the wholetime director or to any othe'- director who is an oiiicitf of the Government."

Amendment of section

8.

11. In section 9 of the principal \ct in 'ub-section (1), in clauses

(a), (c), (ca), (f) and (g), for the words "which may be notified by the Central Government in this behalf*, wherever they occur, the words" whicn may be approved by the Board in this behalf" shall be substituted.

Amendment of section

9.

12 . I n sec t ion 1 1 of t h e p r i n c i p a l A c t , in s u b - s e c t i o n ( 1 ) , —

(a) in clause (c), for the words ''the Central Government", the words "the Board" shall be substituted;

(b) for clause (d), the following clause shall be substituted, namely:— "(d) accept deposit, on such terms as may be approved by the Board.".

Amendment of section

11.

13. In section 12 of the principal Act, sub-section (3) and (4) shall be omitted.

Amendment of section 12,

Where this provision sits

ActThe Industrial Development Bank of India (Amendment) Ordinance, 1994.
Section10
Marginal noteIn section 8 of the principal Act, for the proviso, the following proviso shall be substituted, namely
StatusIn force as published by the source

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