(1) Notwithstanding anything contained in this Act, the Chief Executive Officer or the members of the Committee of an Apex Co-operative Bank or a Central Co-operative Bank shall fulfill such qualifications and criteria as prescribed by the Reserve Bank and are, for the time being, in force and such person who, in the opinion of the Reserve Bank or the National Bank, does not fulfill the prescribed qualifications or the criteria, shall be removed on advice of the Reserve Bank or the National Bank after giving him a reasonable opportunity of being heard.
(2) There shall be at least such number of professionals having special knowledge or experience, and in such fields, as may be prescribed by the Reserve Bank on the Committee of an Apex Co-operative Bank or a Central Co-operative Bank and in case such number of elected directors do not, in the opinion of Reserve Bank or the National Bank, possess such special knowledge or experience, and in such fields, as prescribed by the Reserve Bank, the Committee of an Apex Cooperative Bank or a Central Co-operative Bank, as the case may be, shall co-opt such number of professionals with full voting rights irrespective of :––
(i) the limit on the number of members of the committee under this Act or rules framed thereunder or its bye-laws ; and
(ii) whether such professional is a member of the Society or not.
(3) If any person has been co-opted as a member of the committee under subsection (2) who does not, in the opinion of the Reserve Bank, possess requisite qualification, knowledge or experience as prescribed by the Reserve Bank, he shall, on being advised by the Reserve Bank or the National Bank, be removed from the office after giving him a reasonable opportunity of being heard].