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Section 10: Vacation and resignation of office by directors.

The National Bank for Agriculture and Rural Development Act, 1981Central Act · Act 61 of 1981

(1) If a director--

(a) becomes subject to any of the disqualifications mentioned in section 9; or

(b) is absent without leave of the Board for more than three consecutive meetings thereof,

his seat shall thereupon become vacant.

(2) Any director may resign his office by giving notice thereof in writing to the Central Government, and on his resignation being accepted by the Central Government or if his resignation is not sooner accepted, on the expiry of three months from the receipt thereof by the Central Government, he shall be deemed to have vacated his office.

Where this provision sits

ActThe National Bank for Agriculture and Rural Development Act, 1981
Section10
Marginal noteVacation and resignation of office by directors.
JurisdictionCentral
StatusIn force as published by the source

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