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Section 23: Vacation of office of directors, etc.

The State Bank of India Act, 1955Central Act · Act 23 of 1955

If a director of the Central Board or a member of a Local Board or a Local Committee--

(a) becomes subject to any of the disqualifications mentioned in section 22; or

(b) resigns his office by giving notice in writing under his hand, in the case of the [chairman *** and amanaging director] to the Central Government and in the case of other directors or members of Local Boards or Committees, to the Central Board, and the resignation is accepted; or

(c) is absent without leave of the Central Board, the Local Board or the Local Committee of which he is a director or member, as the case may be, for more than three consecutive meetings thereof;

his seat shall thereupon become vacant.

[Provided that nothing in clause (c) shall apply to the chairman in relation to his membership of a Local Board or of a Local Committee.]

Where this provision sits

ActThe State Bank of India Act, 1955
Section23
Marginal noteVacation of office of directors, etc.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 73 of 1976. . Subs. by Act 73 of 1976, s. 4, for “the chairman and vice-chairman” (w.e.f. 11-6-1976).
  • omitted, Act 27 of 2010. . The word “, vice-chairman” omitted by Act 27 of 2010, s. 17 (w.e.f. 15-9-2010).
  • added, Act 21 of 1957. . The proviso added by Act 21 of 1957, s. 3 (w.e.f. 11-6-1976).

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