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Section 9: Vacation and resignation of office by directors.

The National Housing Bank Act, 1987Central Act · Act 53 of 1987

(1) If a director--

(a) becomes subject to any of the disqualifications mentioned in section 8; or

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

his seat shall thereupon become vacant.

(2) Any director may resign his office by giving notice thereof in writing to the authority that appointed or, as the case may be, nominated him and on his resignation being accepted by such authority or if his resignation is not sooner accepted, on the expiry of three months from the receipt thereof by such appointing authority, he shall be deemed to have vacated his office.

Where this provision sits

ActThe National Housing Bank Act, 1987
Section9
Marginal noteVacation and resignation of office by directors.
JurisdictionCentral
StatusIn force as published by the source

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