Section 5 in The Reserve Bank Of India General Regulations, 1949
5. Obligation of Director or Member of Local Board to give information of disqualification .-A member or Director nominated under clause (b) or (c) of sub-section (1) of the section 8 or under section 12(3) or 12(4) of the Act shall, as soon as may be, inform the Local Board or the Central Board as the case may be, if he becomes subject to any of the disqualifications set out in the Act.
