Section 13(8) in The Nationalised Banks (Management And Miscellaneous Provisions) Scheme, 1970
(8)Where the Chairman of the Management Committee is of opinion that in view of urgency in any matter, it should be dealt with expeditiously, he may circulate a resolution to that effect to the members of the Management Committee, and such resolution shall be deemed to be the resolution passed by the Management Committee when it is approved by a majority of the Members but shall have effect from the day it is signed by the last signatory to the resolution:Provided that any resolution passed as aforesaid shall be placed before the next meeting of the Management Committee:Provided further that if any dissenting member requires in writing that any resolution so passed shall be placed before a meeting of the Management Committee, the resolution shall not be deemed to be valid and effectual as aforesaid unless the same is passed at such meeting.[Explanation. [Substituted by Notification No. S.O. 3350 (E), dated 17.9.2019 (w.e.f. 28.11.1970).] - For the purposes of sub-paragraph (2), "Executive Director" means the whole-time Director, not being the Managing Director and Chief Executive Officer appointed under clause (a) of sub-section (3) of section 9 of the Act and designated as such.]]
