Section 7 in The Punjab Ex-servicemen Corporation Act, 1978
7. Constitution of Board.
(1)The Board of Directors shall consist of [the Chairman, the Vice-Chairman,] [Substituted 'the Chairman' by Punjab Act No. 11 of 2012, dated 1.8.2012.], the Managing Director and the following other directors namely:-(a)The Secretary to Government in the Department of Defence Service Welfare or his nominee, ex-officio;(b)The Secretary to Goverment in the Finance Department or his nominee, ex- officio;(c)The Secretary to Government in the Development Department or his nominee, ex-officio;(d)The Director of Industries Punjab, or his nominee, ex-officio;(e)Four other directors to be nominated by the Government from amongst ex- servicemen.(2)[The Chairman, the Vice-Chairman shall be the persons, who are Ex- servicemen and were] [Substituted 'the Chairman shall be a person who is an Ex-serviceman and was' by Punjab Act No. 11 of 2012, dated 1.8.2012.] holding a Class I post while in service and the Managing Director shall be a person who is or has been a Class I Officer of the State Government or Central Government and they shall be appointed by the Government on such terms and conditions, including salary and allowances, as may be prescribed.(3)The terms and conditions of service, including salaries and allowances, of the directors referred to in clause (e) of sub-section (1) shall be such as may be prescribed.(4)The term of office of [the Chairman, the Vice-Chairman,] [Substituted 'the Chairman,' by Punjab Act No. 11 of 2012, dated 1.8.2012.] the Managing Director and the directors referred to in clause (e) of sub section (1) shall be two years and they shall be eligible for re-appointment.(5)The circumstances under which [the Chairman, the Vice-Chairman,] [Substituted 'the Chairman' by Punjab Act No. 11 of 2012, dated 1.8.2012.] the Managing Director and the other directors referred to in clause (e) of sub-section (1) shall be removable during the term of their office shall be such as may be prescribed.
