Act Number: 39

Act Name: The Small Industries Development Bank of India Act, 1989

Year: 1989

Enactment Date: 1989-10-25

Long Title: An Act to establish the Small Industries Development Bank of India as the principal financial institution for the promotion, financing and development of industry in the small-scale sector and to co-ordinate the functions of the institutions engaged in the promotion, financing or developing industry in the small-scale sector and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 12A: Fees and allowances of directors and members of committees.
    1[12A. Fees and allowances of directors and members of committees.--The directors and the members of a committee shall be paid such fees and allowances as may be prescribed for attending the meetings of the Board or of any committee constituted in pursuance of this Act and for attending to any other work of the Small Industries Bank:
     Provided that no fees shall be payable to the chairman and managing director or to the whole-time directors or to any other director who is an official of the Government.]
Notes:
1. Subs. by Act 7 of 2000, s. 7, for section 12 (w.e.f. 27-3-2000).
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