(2)[ The term of office of the Managing Director shall be three years from the date of his assumption of office as Managing Director.] [Amended vide Notification No.GSR 78(E) dated 24.2.1982][Provided that if an officer of the Government is appointed on deputation as Managing Director, the term of office in his case shall be two years from the date of his assumption of office as Managing Director or upto his reaching the age of 60 years, whichever is earlier.] [Amended vide Notification No.GSR 108(E) dated 10.2.2000]
