Section 18 in The Nationalised Banks (Management And Miscellaneous Provisions) Scheme, 1970
18. [ Resolution without meeting of the Board valid.
- A resolution in writing signed by the majority of the members of the Board shall be valid and effectual and shall be deemed to be the resolution passed by the Board on the date it was signed by the last signatory to the resolution:Provided that any resolution passed as aforesaid shall be placed before the next meeting of the Board:Provided further that if any dissenting member requires in writing that any resolution so passed shall be placed before a meeting of the Board, the resolution shall not be deemed valid and effectual as aforesaid unless the same is passed at such meeting.]
