Lawgist54ADelegation of powers
1[54A. Delegation of powers.--(1) The Governor may, by general or special order, delegate to a Deputy Governor, subjects to such conditions and limitations, if any, as may be specified in the order, such of the powers and functions exercisable by him 2*** under this Act or under any other law for the time being in force as he may deem necessary for the efficient administration of the functions of the Bank.
(2) The fact that a Deputy Governor exercises any power or does any act or thing in pursuance of this Act shall be conclusive proof of his authority to do so.]
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1. Ins. by Act 24 of 1955, s. 10 (w.e.f. 8-5-1955).
2. The words “by or” omitted by Act 58 of 1960, s. 3 and the Second Schedule (w.e.f. 26-12-1960).
- 46 Contribution by Central Government to the Reserve Fund
- 46A Contribution to National Rural Credit (Long Term Operations) Fund and Nation al Rural Credit (Stabilisation) Fund
- 46C National Industrial Credit (Long Term Operations) Fund
- 46D National Housing Credit (Long Term Operations) Fund
- 47 Allocation of surplus profits
- 48 Exemption of Banks from income-tax and super-tax
- 49 Publication of Bank rate
- 50 Auditors
- 51 Appointment of special auditors by Government
- 52 Powers and duties of auditors
- 53 Returns
- 54 Rural Credit and Development
- 54A Delegation of powers
- 54AA Power of Bank to depute its employees to other institutions
- 55 [Omitted.]
- 56 [Omitted.]
- 57 Liquidation of the Bank
- 58 Power of the Central Board to make regulations
- 58A Protection of action taken in good faith
