LawgistThe Deposit Insurance and Credit Guarantee Corporation Act
41Defects in appointment not to invalidate acts, etc
(1) No act or proceeding of the Board or of any committee of the Corporation shall be questioned on the ground merely of the existence of any vacancy or defect in the constitution of the Board or committee.
(2) No act done by any person acting in good faith as a director of the Board shall be deemed to be invalid merely on the ground that he was disqualified to be a director or that there was any other defect in his appointment.
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MISCELLANEOUS
- 33 Staff of Corporation
- 34 Returns from insured banks
- 35 Corporation to have access to records
- 36 Inspection of insured banks by Reserve Bank
- 37 Corporation to furnish information to Reserve Bank
- 38 Reserve Bank to furnish information to Corporation
- 39 Declaration of fidelity and secrecy
- 40 Indemnity of directors
- 41 Defects in appointment not to invalidate acts, etc
- 42 Protection of action taken under this act
- 43 Companies Act, 1956 and insurance act, 1938 not to apply
- 44 Liquidation of Corporation
- 45 Power of Central Government to give directions
- 46 Dispute as to amount of premium
- 47 Penalties
- 48 Offences by companies
- 49 Cognizance and trial of offences
- 50 Regulation
- 51 Repealed
