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[Cites 0, Cited by 0] [Section 15] [Entire Act]

Union of India - Subsection

Section 15(5) in The Insurance Rules, 1939

(5)In the event of there being no person available for appointment under sub--rule (3), the casual vacancy shall be filled by the remaining directors (if not less than two in number) elected or appointed under these rules by appointing a person eligible under rule 13, or if such directors (or a majority of them) are unable to agree upon a person to be appointed, the appointment shall be decided by lot from amongst the persons eligible under rule 13 who have been considered for the appointment by the said remaining directors.