Lawzonline.com 
 
Home|Discussion Forum|Communities|Professional Search|Law Dictionary|Bare Acts|Law Schools|State Bare Acts|Free Judgement Search|Law quotes
Articles  |    Humor    |    Law Digest
 
 
Bare acts search

 
  
Bare acts > State Bank of India (Subsidiary Banks) Act, 1959 > Section 33
 
  


 

33. Casual vacancies among directors.- (1) Where any vacancy occurs before the expiry of the term of office of a director of a subsidiary bank, other than the managing director or a director appointed under clause (ca) or clause (cb) of sub-section (1) of section 25 the vacancy shall be filled—

(a) in the case of a director nominated under clause (c) of sub-section (1) of section 25, not being an officer of the State Bank, by nomination by the State Bank;


(b) in the case of a director elected under clause (d) of sub-section (1) of section 25, by election or where the proviso to that clause is applicable, by nomination by the State Bank:

Provided that where the duration of the vacancy in the office of an elected director is likely to be less than six months, the vacancy may be filled by the remaining directors by co-opting a person from amongst the shareholders entitled to elect a director under clause (d) of sub-section (1) of section 25 who is not disqualified under section 27;

(c) in the case of a director nominated under clause (e) of sub-section (1) of section 25, not being an officer of the Central Government, by nomination by that Government in consultation with the State Bank.

(2) A person nominated or elected or co-opted, as the case may be under sub section (1) shall hold office for the unexpired portion of the term of his predecessor.

(3) Where any vacancy occurs before the expiry of the term of office of a director appointed under clause (ca) or clause (cb) of sub-section (1) of section 25, such vacancy shall be filled in accordance with the said clause (ca) or, as the case may be, clause (cb), and the director so appointed shall hold office for the period specified under sub-section (2A) of section 26.

 

 

 

 

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

 

 

Quick Links     
      
Family LawsInsurance LawsEnvironmental lawTax LawFDI 
Company LawTelecommunication LawLabour LawsCentral RulesRBI 
Business & Commercial LawsConsumer lawsCorporate lawsCriminal lawsSEBI 
Intellectual Property lawMedia & Press lawsPharma & Medical lawsProperty lawFEMA 
Debt Recovery LawsAmendmentsProfessional lawBanking LawsLegal Links 
      
      
 
 
 
 
 

 
   
 

 

 

Privacy PolicyDisclaimer

Copyright @2010