Section 7(3)(a) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970

[Cites 0, Cited by 0] [Section 7(3)] [Section 7] [Entire Act]

Union of India - Subsection

Section 7(3)(a) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970

(a)As soon as may be after the appointed day, the Central Government shall, in consultation with the Reserve Bank, constitute the first Board of Directors of a corresponding new bank, consisting of not more than seven persons, to be appointed by the Central Government, and every director so appointed shall hold office until the Board of Directors of such corresponding new bank is constituted in accordance with the scheme made under section 9:

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Union of India - Subsection

Section 7(3)(a) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970