Section 55 in The Rajasthan Financial Corporation General Regulations, 2002
55. Scrutiny of Proposals and Publication of List of Candidates for Directorship.
- (i) The Managing Director shall scrutinise the proposals on the first working day following the last date fixed for the receipt of proposals, he shall after such enquiry, if any, as he thinks necessary, satisfy himself in regard to the provisions of Regulation 54 and shall accept or reject the proposal for nomination of each candidate accordingly, and, in the case of rejection shall briefly record his reasons for so doing. The decision of the Managing Director that a proposal is valid or invalid shall, subject to the result of any reference under Regulation 58, be final. If there is only one valid proposal for any particular vacancy to be filled by election, the candidate so proposed shall be deemed to be elected forthwith and his name and address shall be published as so elected. In such an event there shall not be any election at the meeting convened for the purpose and if the meeting has been called solely for the purpose of the aforesaid election, it shall stand cancelled.If the number of valid proposals exceeds one, the Managing Director shall cause to be notified the names and addresses of candidates validly proposed on the Notice Board of the Corporation and in the meeting called for election of the Director.(ii)A Director elected to fill an existing vacancy shall be deemed to have assumed office from the date following that on which he is, or is deemed to be, elected.
