Section 28
Vacation of office of directors. Repealed
The State Bank of India (Subsidiary Banks) Act, 1959
About this Act
An Act to provide for the formation of certain Government or Government associated banks as subsidiaries of the State Bank of India and for the constitution, management and control of the subsidiary banks so formed, and for matters connected therewith, or incidental thereto.
If a director of a subsidiary bank--
(a) is, or has become, subject to any of the disqualifications mentioned in section 27; or
(b) resigns his office by giving notice in writing under his hand, in the case of a nominated director to the State Bank, and in the case of an elected director to the Board of Director of the subsidiary bank, and his registration is accepted; or
(c) is absent without leave of the Board of Directors for more than three consecutive meetings thereof;
his seat on the Board of Directors shall thereupon become vacant:
Provided that nothing in clause (b) or clause (c) shall apply to a director referred to in clause (b) of sub-section (1) of section 25 or to a director, being an officer of the State Bank, nominated under clause (c) or to a director, being an officer of the Central Government nominated under clause (e) of that sub-section.
(a) is, or has become, subject to any of the disqualifications mentioned in section 27; or
(b) resigns his office by giving notice in writing under his hand, in the case of a nominated director to the State Bank, and in the case of an elected director to the Board of Director of the subsidiary bank, and his registration is accepted; or
(c) is absent without leave of the Board of Directors for more than three consecutive meetings thereof;
his seat on the Board of Directors shall thereupon become vacant:
Provided that nothing in clause (b) or clause (c) shall apply to a director referred to in clause (b) of sub-section (1) of section 25 or to a director, being an officer of the State Bank, nominated under clause (c) or to a director, being an officer of the Central Government nominated under clause (e) of that sub-section.