Section Section 10
A Director or member of a Local Board removed or ceasing to hold office under th
section 10. A Director or member of a Local Board removed or ceasing to hold office under the foregoing sub-sections shall not be eligible for re-appointment either as Director or as member of a Local Board until the expiry of the term for which his appointment was made. The Tx** nomination 8*** as Director or member of a Local Board of any person who is member of 9[Parliament or the Legislature '[of any State]] shall be void, unless within two months of the date of his 7*** nomination 8*** he ceases to be such member, and if any Director O member of a Local Board is elected or nominated as member of 1![Parliament o any such Legislature], he shall cease to be Director O member of the Local Board as from the date of such election Or nomination, as the case may be. (6) A_ Director may resign his office to the [Central Government], and member of a Local Board may resign his office to the Central Board, and on the acceptance of the resignation the office shall become vacant_ 12. Casual vacancies and absences.- (1) If the Governor Or Deputy Governor by infirmity O otherwise is rendered incapable of executing his duties Or is absent on leave Or otherwise in circumstances not involving the vacation of his appointment, the '[Central Government] may, after consideration of the recommendations made by the Central Board in this behalf, appoint another person to officiate for him, and such person may; notwithstanding anything contained in clause (d) or sub-section (1) of sectionlO, be an officer of the Bank
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1. Subs. by Act 23 of 1965, s. 3, for clause (e) (w.e.f. 1-3-1966). 2. Subs. by Act 51 of 1974,s. 3,for " Banking Companies Act; 1949" (wW.e.f: 13-12-1974). 3. Subs. by the M.O. 1937, for "G.G. in C?_ 4. Subs. by Act 32 of 1951,s. 6, for *any other Director" (w.e.f: 1-11-1951). 5 The proviso omitted by Act 62 of 1948, s_ 7 and the Schedule (W.ef: 1-1-1949)- 6. Subs by $. 7 and the Schedule, ibid. for sub-section (2) (w.e.f: 1-1-1949). The word ~appointment' omitted by s_ and the Schedule, ibid. (w.e.f. 1-1-1949)_ 8 The words "or election" omitted by $. and the Schedule, ibid. (w.e.f: 1-1-1949). 9. Subs: by the A.O_ 1950, for certain words _ 10. Subs. by Act 32 of 1951,s. 6, for "ofa Part A State or a Part C State" (W.e.f: 1-11-1951) 11. Subs. by the A.O. 1950,for "any such Legislature or Council" . 12. Sub-section (2) omitted by Act 62 of 1948, and the Schedule (w.e.f: 1-1-1949)_
3) Where any casual vacancy in the office of any member of a Local Board occurs Ixx* the Central Board may nominate thereto any 2*** person recommended by the ?[other] members of the Local Board. Where any casual vacancy occurs in the office of a Director other than the vacancies provided for in sub-section( /), the vacancy shall be filled 4[by the Central Government] (5) A person nominated 5***0 'under this section to fill a casual vacancy shall 6x** hold office for the unexpired portion of the term of his predecessor: 13. Meetings 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 7[four Directors] may require the Governor to convene meeting of the Central Board at any time and the Governor shall forthwith convene a meeting accordingly. (3) The Governor, or S[if for any reason, he is unable to attend,] the Deputy Governor authorised by the Governor under the proviso to sub-section (3) of
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