Section 6 in The National Bank For Agriculture And Rural Development (Amendment) Act ,2000
6. Amendment of section 7.-
In section 7 of the principal Act,-(i)in sub- section (1), the words" and shall be eligible for re- appointment" shall be added at the end;(ii)after sub- section (1A), the following sub- section shall be inserted, namely:-" (1B) In the case of a vacancy in the office of the Chairman, the Managing Director shall perform the functions and duties of the Chairman during such vacancy.";(iii)in sub- section (2), the words" and thereafter until his successor enters upon his office" shall be omitted;(iv)for sub- section (4), the following sub- section shall be substituted, namely:-" (4) The Chairman and any other director, who is not an officer of the Central Government or a State Government or an officer of the Reserve Bank or any body or corporation established by or under any Central Act or any State Act and owned or controlled by such Government, shall be paid such fees and allowances as may be prescribed for attending the meetings of the Board or of any of its committees and for attending to any other work of the National Bank.".
