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State of Rajasthan - Section

Section 64 in The Rajasthan Financial Corporation General Regulations, 2002

64. Appointment of Committee.

- (i) The Board may appoint Committees consisting wholly of Directors or wholly of other persons or partly of Directors and partly of other persons as it deems fit for the purpose of efficient discharge of the function of the Corporation.
(ii)Any Committee constituted under Section 21 shall, in the exercise of the power entrusted to it, be bound by such general or special directions as the Board or the Executive Committee may give from time to time.
(iii)Meeting of any such committee may be convened from time to time at the Head office of the Corporation, or at such place within the jurisdiction of the Corporation or at any other place as may be specified in the notice convening the meeting. Sufficient notice shall be given for such meetings.
(iv)The Chairman of the Board if he is elected to be a member of any committee constituted under section 21 shall be the Chairman of such committee; or otherwise Managing Director or any other member of the Board of such a Committee as may be decided by the Board or the Committee shall be the Chairman of that Committee. If the Chairman of any such Committee is, for any reason, unable to attend a meeting of the Committee, a person authorised by the said Chairman in writing shall preside at that meeting. In default of such authorisation or in absence of the person so authorised, the Committee may elect a Chairman to preside at that meeting.
(v)Each member of any such Committee, who is not a Director, auditor, officer or employee of the Corporation who has already made a declaration under section 40 shall, before entering upon his duties, be required to sign a declaration of Fidelity & secrecy to the effect set out in the form given in the schedule to the Act.
(vi)The provisions of the Act and save as otherwise provided in these Regulations, these Regulations shall apply to the meetings of such Committee formed under Section 21 as if they were the meetings of the Executive Committee.