Section 10(4) in The Shipping Development Fund Committee (Abolition) Act, 1986
(4)Nothing in the Companies Act, 1956 (1 of 1956), or in any other law for the time being in force, or in any instrument relating to the shipowner, if it is a company shall, in so far as it makes, in relation to a director, any provision for the holding of any share qualification, age limit, restriction on the number of directors or directorships, retirement by rotation or removal from office, apply to any director appointed by the Central Government under this section.
