Section Section 8
Composition of the Central Board, and term of office of Directors. S[(1) The Cent
8. Composition of the Central Board, and term of office of Directors. S[(1) The Central Board shall consist of the following Directors, namely: a Governor and [not more than four] Deputy Governors to be appointed by the Central Government; (b) four Directors to be nominated by the Central Government, one from each of the four Local Boards as constituted by section 9; IO[ten] Directors to be nominated by the Central Government; and one Government official to be nominated by the Central Government:] (2_ The Governor and Deputy Governors shall devote their whole time to the affairs of the Bank, and shall receive such salaries and allowances as may be determined by the Central Board, with the approval of the S[Central Government]: 11 [Provided that the Central Board may, if in its opinion it is necessary in the public interest so to do, permit the Governor or Deputy Governor to undertake, at the request of the Central Government or any State Government, such part-time honorary work, whether related to the purposes of this Act Or not, as is not likely to interfere with his duties as Governor or Deputy Governor, as the case may be:] 12[Provided further that the Central Government may, in consultation with the Bank, appoint a Deputy Governor as the Chairman of the National Bank; on such terms and conditions as that Government may specify:] (3) A_ Deputy Governor and the Director nominated under clause of subsection (1) may attend any meeting of the Central Board and take part in its deliberations but shall not be entitled to vote:
Roop's Law Assist