Lawgist12Casual vacancies and absences
(1) If the Governor or a Deputy Governor by infirmity or otherwise is rendered incapable of executing his duties or is absent on leave or otherwise in circumstances not involving the vacation of his appointment, the 1[Central Government] may, after consideration of the recommendations made by the Central Board in this behalf, appoint another person to officiate for him, and such person may, notwithstanding anything contained in clause (d) or sub-section (1) of section10, be an officer of the Bank.
2* * * * *
(3) Where any casual vacancy in the office of any member of a Local Board occurs 3*** the Central Board may nominate thereto any 4*** person recommended by the 5[other] members of the Local Board.
(4) Where any casual vacancy occurs in the office of a Director other than the vacancies provided for in sub-section(1), the vacancy shall be filled 6[by the Central Government].
(5) A person nominated 7***under this section to fill a casual vacancy shall 8*** hold office for the unexpired portion of the term of his predecessor.
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1. Subs. by the M.O. 1937, for "G.G. in C.".
2. Sub-section (2) omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949).
3. The words "otherwise than by the occurrence of a vacancy in the office of a Director elected by the Local Board" omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949).
4. The word "qualified" omitted by s. 7 and the Schedule, ibid. (w.e.f. 1-1-1949).
5. Subs. by s. 7 and the Schedule, ibid., for "elected" (w.e.f. 1-1-1949).
6. Subs. by s. 7 and the Schedule, ibid., for certain words (w.e.f. 1-1-1949).
7. The words "or elected" omitted by s. 7 and the Schedule, ibid. (w.e.f. 1-1-1949).
8. The words, brackets and figure "subject to the proviso contained in sub-section (4)" omitted by s. 7 and the Schedule, ibid. (w.e.f. 1-1-1949).
- 3 Establishment and incorporation of Reserve Bank
- 4 Capital of the Bank
- 5 [Omitted.]
- 6 Offices, branches and agencies
- 7 Management
- 8 Composition of the Central Board, and term of office of Directors
- 9 Local Boards, their constitution and functions
- 10 Disqualifications of Directors and members of Local Boards
- 11 Removal from and vacation of office
- 12 Casual vacancies and absences
- 13 Meetings of the Central Board
- 14 [Omitted.]
- 15 [Omitted.]
- 16 [Omitted.]
- 17 Business which the Bank may transact
- 18 Power of direct discount
- 18A Validity of loan or advance not to be questioned
- 19 Business which the Bank may not transact
