(2)[ A Director may receive remuneration by way of a fee for each meeting of the Board, or a committee thereof, attended by him:Provided that where immediately before the commencement of the Companies (Amendment) Act, 1960 (65 of 1960) fees for meetings of the Board and any committee thereof, attended by a Director are paid on a monthly basis, such fees may continue to be paid on that basis for a period of two years after such commencement or for the remainder of the term of office of such Director, whichever is less, but no longer.
