Section 15
Member of Board or Committee thereof not to participate in meetings in certain cases.
The National Bank for Agriculture and Rural Development Act, 1981
About this Act
An Act to establish a development bank to be known as the National Bank for Agriculture and Rural Development for providing and regulating credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas and for matters connected therewith or incidental thereto.
A
director of the Board or a member of a Committee, who has any direct or indirect pecuniary interest in
any matter coming up for consideration at a meeting of the Board or a Committee thereof, shall, as soon
as possible after relevant circumstances have come to his knowledge, disclose the nature of his interest at
such meeting, and the disclosure shall be recorded in the minutes of the Board, or the Committee, as the
case may be, and the director or member shall not take any part in any deliberation or decision of the
Board or the Committee with respect to that matter.