In these rules, unless there is anything repugnant ifi the subject or context ;
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(b) AGRICULTURE DEPARTMENT NOTIFICATION The 23rd December, 1974
CHAPTER | Preliminary Rules 1974".
They shall come into force with immediate effect.
‘Act’ means the Warehousing Corporations Act, 1962, (58 of 1962);
‘Accounts Officer’ means the Accounts Officer of the Corporation;
‘Board’ means the Board of Directors of the Corporation;
‘Corporation’ means the Punjab State Warehousing Corporation established under Section 18 of the Act;
‘Chairman’ means the Chairman of the Corporation;
‘Director’ means the Director of the Board;
‘Executive Committee’ means the Executive Committee of the Corporation constituted under section 25 (1) of the Act;
‘Form’ means a form appended to these rules;
‘Government’ means the Punjab Government in the Administrative Department concerned;
‘Managing Director’ means the Managing Director of the Corporation;
‘Register’ means the Register of Shareholders referred to in Rule 9;
‘Section’ means a section of the Act; Corporation;
‘Shareholders' means the shareholders of the Cdrporation; | ‘Sub-Committee’ means the Sub-Committee appointed by the Board;
‘Secretary’ means the Secretary of the Corporation;
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3. TERMS OF OFFICE OF DIRECTORS AND FILLING UP CASUAL VACANCIES AMONG DIRECTORS [SECTION 20 (7) AND SECTION 41 (2)].
(c) (i) The term of office of every Director nominated under section 20 shall, in the case of official Director, be-for the period for which he continues to hold the office by virtue of which he is nominated as a Director and in case of non-official Director, be three years commencing from the date of his appointment.
Provided thatfi; Government may extend the term of office of such Director for a further period not exceeding one year or till a successor is nominated, whichever is earlier.
(i) It shall be open to the Central Warehousing Corporation and the State Government to withdraw at any time any Director for the unexpired term of office for which the Director was originally nominated.
(iii) A non official Director may resign his office by writing in his own hand, addressed to the Government and such resignation shall be effective from the date from which it is accepted by the Government on the expiry of a period of one month from the date of its submission to the Government, whichever is earlier. The causal vacancy so caused shall be filled by nomination by the Central Warehousing Corporation or the Government as the case may be in the same manner as is laid down in clauses (a) and
(b) of sub-section (1) of Section 20.
(iv) A person nominated to fill the casual vacancy shall hold the office for so long as the member whose place he fills, would have been entitled to hold office till the vacancy did not occur.
Provided that any casual vacancy occuring within three months of the expiry of the normal term of the office of a Director, may not be filled.
@ MANNER OF CHOOSING DIRECTORS ON THE EXECUTIVE COMMITTEES OF “THE CORPORATION.- Section 25 (1) (c) and Section “41 (2) (d).
The three directors, referred to in clause (c) of sub section (1) of Section 25 shall be chosen by the Board of whom one shall be from amongst the Directors nominated under clause (a) of sub-section (1) of Section 20.
5. RESIGNATION OF THE NON-OFFICIAL MEMBERS OF THE EXECUTIVE COMMITTEE - Section 41 (2) (i) A non-omcigl rpem'ber_of the Executive Committee may resign his office as such member by intimation in writing under the hand addressed to the Chairman, who /
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SUB-COMMITTEES.- Section 41 (2) (i).- The Board may appoint as many Sub-Committees from amongst its Directors as it may deem necessary for the efficient performance of its functions.
REMUNERATION PAYABLE TO DIRECTORS FOR ATTENDING MEETINGS - Section 20(6) Section 41 (2)(c).— i) A director (other than the Managing Director or a salaried officer of the Government) shall be reimbursed their travelling expenses for attending the meeting of the Board or the Executive Committee or sub-committee or in respect of journeys undertaken by them in connection with the business of the Corporation, at the rates and subject to .the conditions governing thereof as admissible in case of Class-1 officers of the Government; provided, however, that the rate of daily allowance admissible will be Rs. 9 per diem.
iiy Directors who are members of Punjab Legislative Assembly will draw Travelling Allowance and Daily allowance as admissible to them as Members of the Punjab Legislative Assembly. In the case of Directors who are Members of Parliament they will, in respect of journeys performed by them by rail be entitled to the same Travelling Allowance as is admissible to the Members of the Punjab Legislative Assembly less one 1st Class fare for journeys by rail to and fro.
iy An official director shall be entitled to draw such travelling and daily allowances as are admissible to him under the rules requlating conditions of his service for attending the meeting of the Board or the Executive Committee or of a sub-committee or, in respect of journeys undertaken by him in connection with the affairs of the Corporation.
CHAPTERII SHARES OF THE CORPORATION :- Section 19(1) Section 41 (2) (c)-Authorised capital - The authorised share capital of the Corporation shall be two crores of rupees. .
SHARE REGISTER :- Section 41 (2) (h).- The Corporation shall maintain at its head office a register of Shareholders and Shares issued under the Act and
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