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1[9. Local Boards, their constitution and functions.--(1) A Local Board shall be constituted for
each of the four areas specified in the First Schedule and shall consist of five members to be appointed by
the Central Government to represent, as far as possible, territorial and economic interests and the interests
of co-operative and indigenous banks.
(2) The members of the Local Board shall elect from amongst themselves one person to be the
chairman of the Board.
2[(3) Every member of a Local Board shall hold office for a term of four years and 3[shall be eligible
for reappointment:
Provided that any such member shall not be appointed for more than two terms, that is, for a
maximum period of eight years either continuously or intermittently].]
(4) A Local Board shall advise the Central Board on such matters as may be generally or specifically
referred to it and shall perform such duties as the Central Board may delegate to it.]
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1. Subs. by Act 62 of 1948, s. 7 and the Schedule, for section 9 (w.e.f. 1-1-1949).
2. Subs. by Act 51 of 1974, s. 5, for sub-section (3) (w.e.f. 13-12-1974).
3. Subs. by Act 4 of 2013, s. 17 and the Schedule, for "thereafter until his successor shall have been appointed and shall be eligible for reappointment" (w.e.f. 18-1-2013).