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[Cites 0, Cited by 0] [Section 7(3)] [Section 7] [Entire Act]

Union of India - Subsection

Section 7(3)(b) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970

(b)Every member of the first Board of Directors (not being an officer of the Central Government or of the Reserve Bank) shall receive such remuneration as is equal to the remuneration which a member of the Board of Directors of the existing bank was entitled to receive immediately before the commencement of this Act.