LawgistThe National Bank for Agriculture and Rural Development Act
10Vacation and resignation of office by directors
(1) If a director--
(a) becomes subject to any of the disqualifications mentioned in section 9; or
(b) is absent without leave of the Board for more than three consecutive meetings thereof,
his seat shall thereupon become vacant.
(2) Any director may resign his office by giving notice thereof in writing to the Central Government, and on his resignation being accepted by the Central Government or if his resignation is not sooner accepted, on the expiry of three months from the receipt thereof by the Central Government, he shall be deemed to have vacated his office.
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MANAGEMENT OF THE NATIONAL BANK
- 5 Management
- 6 Board of Directors
- 7 Term of office of Chairman and other directors, retirement and payment of fees
- 8 Term of office of Managing Director and whole-time directors, conditions of service, etc
- 9 Disqualifications
- 10 Vacation and resignation of office by directors
- 11 Casual vacancy in the office of Managing Director
- 12 Meetings of Board
- 13 Committees of National Bank
- 14 Advisory Council
- 15 Member of Board or Committee thereof not to participate in meetings in certain cases
