Section 15: Chairman of Board.

The State Financial Corporations Act, 1951Central Act · Act 63 of 1951

[15. Chairman of Board.--(1) The Small Industries Bank shall, in consultation with the State Government nominate a director as a Chairman of the Board for such period not exceeding three years and on such terms and conditions as the Small Industries Bank may specify:

Provided that the Chairman shall not be a whole-time director unless he is also appointed to function as the managing director:

Provided further that the Chairman shall so long as he remains a director be eligible for re-appointment as Chairman.

(2) The Chairman shall preside over the meetings of the Board and the general meetings of the Financial Corporation.]

Where this provision sits

Act	The State Financial Corporations Act, 1951
Section	15
Marginal note	Chairman of Board.
Jurisdiction	Central
Status	In 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. . Subs. by s. 12, ibid., for section 15 (w.e.f. 5-9-2000).

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