Section 12:
Casual vacancies and absences.
(1) If the Governor or a Deputy Governor by infirmity or
otherwise is rendered incapable of executing his duties or is absent on leave or otherwise in circumstances
not involving the vacation of his appointment, the 1[Central Government] may, after consideration of the
recommendations made by the Central Board in this behalf, appoint another person to officiate for him,
and such person may, notwithstanding anything contained in clause (d) or sub-section (1) of section10, be
an officer of the Bank.
2* * * * *
(3) Where any casual vacancy in the office of any member of a Local Board occurs 3*** the Central
Board may nominate thereto any 4*** person recommended by the 5[other] members of the Local Board.
(4) Where any casual vacancy occurs in the office of a Director other than the vacancies provided for
in sub-section(1), the vacancy shall be filled 6[by the Central Government].
(5) A person nominated 7***under this section to fill a casual vacancy shall 8*** hold office for the
unexpired portion of the term of his predecessor.
Notes:
1. Subs. by the M.O. 1937, for "G.G. in C.".
2. Sub-section (2) omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949).
3. The words "otherwise than by the occurrence of a vacancy in the office of a Director elected by the Local Board" omitted by
Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949).
4. The word "qualified" omitted by s. 7 and the Schedule, ibid. (w.e.f. 1-1-1949).
5. Subs. by s. 7 and the Schedule, ibid., for "elected" (w.e.f. 1-1-1949).
6. Subs. by s. 7 and the Schedule, ibid., for certain words (w.e.f. 1-1-1949).
7. The words "or elected" omitted by s. 7 and the Schedule, ibid. (w.e.f. 1-1-1949).
8. The words, brackets and figure "subject to the proviso contained in sub-section (4)" omitted by s. 7 and the Schedule, ibid.
(w.e.f. 1-1-1949).