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[Cites 0, Cited by 0] [Section 31] [Entire Act]

Union of India - Subsection

Section 31(4) in The State Bank Of India Act, 1955

(4)If for any reason neither the chairman nor the [managing director authorised by the chairman] [Substituted by Act 27 of 2010 for the word "vice-chairman"] is able to be present at a meeting of the Central Board, any director, [* * *] authorised by the chairman in writing in this behalf, and in the absence of such authorisation, any director elected by the directors present from amongst themselves, shall preside at the meeting and, in the event of equality of votes, shall have a second or casting vote.
(1) The Central Board shall meet at such time and place and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be prescribed.(2) All questions at the meeting shall be decided by a majority of the votes of the directors present and in the case of equality of votes, the chairman or, in his absence, the vice-chairman shall have a second or casting vote.