Lawgist36AHConstitution of the Tribunal
1[36AH. Constitution of the Tribunal.-- (1) The Central Government may, for the purpose of this Part, constitute a Tribunal which shall consist of a Chairman and two other members.
(2) The Chairman shall be a person who is, or has been, a Judge of a High Court or of the Supreme Court, and, of the two other members, one shall be a person, who, in the opinion of the Central Government, has had experience of commercial banking and the other shall be a person who is a chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949).
(3) If, for any reason, a vacancy occurs in the office of the Chairman or any other member of the Tribunal, the Central Government may fill the vacancy by appointing another person thereto in accordance with the provisions of sub-section (2), and any proceeding may be continued before the Tribunal, so constituted, from the stage at which the vacancy occurred.
(4) The Tribunal may, for the purpose of determining any compensation payable under this Part, choose one or more persons having special knowledge or experience of any relevant matter to assist it in the determination of such compensation.]
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1. Ins. by Act 58 of 1968, s. 15 (w.e.f. 1-2-1969)
- 36AE Power of Central Government to acquire undertakings of banking companies in certain cases
- 36AF Power of the Central Government to make scheme
- 36AG Compensation to be given to shareholders of the acquired bank
- 36AH Constitution of the Tribunal
- 36AI Tribunal to have powers of a civil court
- 36AJ Procedure of the Tribunal
