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?
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.
More Other Laws and Acts Questions
- Plaint is covered under which order of CPC?
- As per section 201 of the Contract Act an agency is terminated by___________________
- As per section 25 of the Companies Act what constitutes evidence that an allotment of securities was made with a view to the securities being offered for s...
- Who is the highest law officer in India?
- Under the Contempt of Courts Act an appeal shall lie as of right from any order or decision of the High Court in the exercise of its jurisdiction to punish...
- Which constitutional provision allows Parliament to legislate on a State List matter when two or more States request Parliament to do so?
- As per Section 34(2)(iii) of BNSS, “officer employed in connection with the affairs of a village” includes—Â
- A company limited by shares may, if so, authorised by its articles, issue preference shares which are liable to be redeemed within a period________________...
- (PYQ) Under the Companies Act, 2013, "Ultra Vires" acts of a company are:
- According to the Code on Social Security, 2020 what is the definition of the term aggregator?
