Lawgist9Disqualifications
(1) No person shall be a director who--
(a) is of unsound mind and stands so declared by a competent court; or
(b) is or has been convicted of any offence which, in the opinion of the Central Government, involves moral turpitude; or
(c) is, or at any time has been, adjudicated insolvent or has suspended payment of his debts or has compounded with his creditors.
(2) The appointment as director of any person who is a Member of Parliament or the Legislature of any State shall, unless within two months of the date of his appointment he ceases to be such member, be void on the expiry of the said period of two months and if any director is elected or nominated as a Member of Parliament or of any State Legislature he shall cease to be a director as from the date of such election or nomination, as the case may be.
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- 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
