LawgistThe National Bank for Agriculture and Rural Development Act
52Defects in appointment not to invalidate acts, etc
(1) No act or proceeding of the Board or of any committee of the National Bank shall be questioned on the ground merely of the existence of any vacancy in, or defect in the constitution of, the Board or the committee, as the case may be.
(2) No act done by any person acting in good faith as a director of the Board or as a member of a committee of the National Bank shall become 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
- 51 Obligation as to fidelity and secrecy
- 52 Defects in appointment not to invalidate acts, etc
- 52A Agreement with National Bank on appointment of directors to prevail
- 53 Protection of action taken under the Act
- 54 Indemnity of directors
- 55 [Omitted]
- 56 Penalties
- 57 Offences by companies
- 58 Bankers' Books Evidence Act, 1891, to apply in relation to National Bank
- 59 Liquidation of National Bank
- 60 Power of Board to make regulations
- 61 [Repealed.]
- 62 Power to remove difficulty
