LawgistThe State Financial Corporations Act
20Powers of Executive Committee
(1) Subject to such general or special directions as the Board may from time to time give, the Executive Committee may deal with any matter within the competence of the Board.
(2) The minutes of every meeting of the Executive Committee 1[shall, after confirmation thereof at the next meeting of the Executive Committee, be laid] before the Board at the next following meeting of the Board.
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1. Subs. by s. 13, ibid., for "shall be laid" (w.e.f. 21-8-1985).
INCORPORATION OF STATE FINANCIAL CORPORATIONS THEIR CAPITAL AND MANAGEMENT
- 3 Establishment of State Financial Corporations
- 3A Establishment of Joint Financial Corporations
- 4 Share capital and share-holders
- 4A Special class of shares
- 4B Transfer of share capital to Development Bank
- 4C Payment of amount
- 4D Issue of redeemable preference shares
- 4E Reduction of share capital
- 4F Restriction on exercising of voting right
- 4G Proxy voting
- 4H Transfer of share capital to Small Industries Bank
- 5 Transfer of shares
- 6 Conversion of shares guaranteed by State Government
- 7 Additional capital of Financial Corporation and its borrowing powers
- 8 Deposits with the Financial Corporation
- 9 Managements
- 10 Board of directors
- 10A Omitted
- 11 Term of office and retirement of directors
- 12 Disqualifications for being a director
- 13 Removal of director from office
- 14 Resignation of office by director and filling up of casual vacancies
- 15 Chairman of Board
- 16 Remuneration of directors
- 17 Managing director
- 18 Executive Committee
- 19 Meetings of the Board and Committee
- 20 Powers of Executive Committee
- 21 Advisory Committee
- 22 Offices and agencies
- 23 Officers and other employees of the Financial Corporation
