State Agricultural Credit Corporations Act, 1968
9. Constitution of Board.
The Board of directors of the Corporation
shall consist of the following, namely:-
- one directors to
be nominated by the Central Government who shall be the Chairman of the Board;
- two directors
nominated by the appropriate Government, one of whom shall be a person who has
special knowledge of co-operation and who is not an employee of the Central or
State Government or of the Reserve Bank, State Bank, subsidiary bank,
1*[corresponding new bank,] banking company, or Food Corporation;
-
one director to
be nominated by the Reserve Bank;
- two directors to
be elected in such manner as may be prescribed by the parties subscribing for
shares in pursuance of the provisions of clause (d) of sub-section (3), and
sub-section (5) of section 5;
Ins. by Act 5 of
1970, s. 20 (w.e.f. 19-7-1969).
- 172.a
managing director, to be appointed by the Central Government and, except in the
case of first appointment, after consultation with the Board:
Provided that, in appointing a
managing director of a Corporation established in a State, the Central
Government may also consult the Government of that State.
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