Section 30
Remuneration 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 Repealed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.
A director of a subsidiary bank shall be paid for attending the
meetings of the Board of Directors or of any of its committees and for attending to any other business
of the subsidiary bank such fees and allowances as may be prescribed:
Provided that no fees shall be payable to the chairman of the State Bank 1[or the managing director of the subsidiary bank] or any other director who is a wholetime officer of the Central Government or the Reserve Bank or the State Bank.
Provided that no fees shall be payable to the chairman of the State Bank 1[or the managing director of the subsidiary bank] or any other director who is a wholetime officer of the Central Government or the Reserve Bank or the State Bank.
Notes
1. Ins. by, s. 25, ibid. (w.e.f. 1-7-1974).