Section 23
Vacation of office of directors, etc.
The State Bank of India Act, 1955
About this Act
An Act to constitute a State Bank for India, to transfer to it the undertaking of the Imperial Bank of India and to provide for other matters connected therewith or incidental thereto.
If a director of the Central Board or a member of a Local
Board or a Local Committee--
(a) becomes subject to any of the disqualifications mentioned in section 22; or
(b) resigns his office by giving notice in writing under his hand, in the case of the 1 [chairman 2*** and amanaging director] to the Central Government and in the case of other directors or members of Local Boards or Committees, to the Central Board, and the resignation is accepted; or
(c) is absent without leave of the Central Board, the Local Board or the Local Committee of which he is a director or member, as the case may be, for more than three consecutive meetings thereof;
his seat shall thereupon become vacant.
3[Provided that nothing in clause (c) shall apply to the chairman in relation to his membership of a Local Board or of a Local Committee.]
(a) becomes subject to any of the disqualifications mentioned in section 22; or
(b) resigns his office by giving notice in writing under his hand, in the case of the 1 [chairman 2*** and amanaging director] to the Central Government and in the case of other directors or members of Local Boards or Committees, to the Central Board, and the resignation is accepted; or
(c) is absent without leave of the Central Board, the Local Board or the Local Committee of which he is a director or member, as the case may be, for more than three consecutive meetings thereof;
his seat shall thereupon become vacant.
3[Provided that nothing in clause (c) shall apply to the chairman in relation to his membership of a Local Board or of a Local Committee.]
Notes
1. Subs. by Act 73 of 1976, s. 4, for “the chairman and vice-chairman” (w.e.f. 11-6-1976).
2. The word “, vice-chairman” omitted by Act 27 of 2010, s. 17 (w.e.f. 15-9-2010).
3. The proviso added by Act 21 of 1957, s. 3 (w.e.f. 11-6-1976).
2. The word “, vice-chairman” omitted by Act 27 of 2010, s. 17 (w.e.f. 15-9-2010).
3. The proviso added by Act 21 of 1957, s. 3 (w.e.f. 11-6-1976).