Lawgist13Meetings of the Central Board
(1) Meetings of the Central Board shall be conveyed by the Governor at least six times in each year and at least once in each quarter.
(2) Any 1[four Directors] may require the Governor to convene a meeting of the Central Board at any time and the Governor shall forthwith convene a meeting accordingly.
(3) The Governor, or 2[if for any reason, he is unable to attend,] the Deputy Governor authorised by the Governor under the proviso to sub-section (3) of section 8 to vote for him shall preside at meetings of the Central Board, and, in the event of an equality of votes, shall have a second or casting vote.
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1. Subs. by Act 18 of 1964, s. 38 and the Second Schedule, for "three Directors" (w.e.f. 1-7-1964).
2. Subs. by Act 24 of 1955, s. 5, for "in his absence" (w.e.f. 8-5-1955).
- 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
