Act Number: 47

Act Name: The Deposit Insurance and Credit Guarantee Corporation Act, 1961

Year: 1961

Enactment Date: 1961-12-07

Long Title: An Act to provide for the establishment of a corporation for the purpose of insurance of deposits and guaranteeing of credit facilities and for other matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 9: Fees and allowances of directors.
    The directors of the Board shall be paid by the Corporation such fees and allowances for attending the meetings of the Board or of any its committees and for attending to any other work of the Corporation as may be prescribed:
     Provided that no fees shall be payable to the Chairman or to the director nominated under clause (b) of clause (c) of sub-section (1) of section 6.
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