📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    What is the maximum continuous tenure a director of a

    banking company (other than the chairman or whole-time director) can hold office, as per the Banking Regulation Act?
    A Six years Correct Answer Incorrect Answer
    B Seven years Correct Answer Incorrect Answer
    C Eight years Correct Answer Incorrect Answer
    D Nine years Correct Answer Incorrect Answer
    E Ten years Correct Answer Incorrect Answer

    Solution

    Section 10A. Board of directors to include persons with professional or other experience:(2) be proprietors of any trading, commercial or industrial concern, not being a small-scale industrial concern. 1 [(2A) Notwithstanding anything to the contrary contained in the Companies Act, 1956 (1 of 1956), or in any other law for the time being in force— (i) no director of a banking company, other than its chairman or whole-time director, by whatever name called, shall hold office continuously for a period exceeding eight years.

    Practice Next
    More Other Laws and Acts Questions
    ask-question