Section 54 in The Rajasthan Financial Corporation General Regulations, 2002
54. Proposal of candidate for Directorship.
- (i) No candidate for election as a Director of the Board shall be validly proposed unless:-(a)he is, on the last date for receipt of proposals, not disqualified to be a Director under Section 12 and who has not been removed earlier under Section 13;(b)he is proposed by at least two shareholders;(c)the proposal is in writing signed by the shareholders or by their duly constituted attorneys, provided that a proposal by shareholder who is a body corporate may be made by a resolution of the Directors of the said body corporate and where it is so made, a copy of the resolution certified to be true copy by the Chairman of the meeting at which it was passed by the Secretary, or the Chief/Vice Chief, Executive officer of that body such copy shall be deemed to be proposal on behalf of such body corporate;(d)the proposal contains a declaration signed by the candidate before a Judge, Magistrate, Registrar or Sub-Registrar of Assurances, or other Government Gazetted officer or an officer of Nationalised Bank or of the Corporation not below the rank of Manager, that he accepts the proposal and is willing to stand for election, and that he is not disqualified for election under section 12 or earlier removed under section 13.(ii)No proposal shall be valid unless it is complete in all respect and received in the Head office of the Corporation on a working day not less than 14 clear days before the date fixed for the election.
