Section 7 in The Indian Institutes of Management (Amendment) Act, 2023
7.Amendment of section 16.
In section 16 of the principal Act,—(a)in sub-section (2), for the words "appointed by the Board, on such terms", the words "appointed by the Board with prior approval of the Visitor, in such manner and subject to such terms" shall be substituted;(b)for sub-section (3), the following sub-sections shall be substituted, namely:—"(3) The Director shall be appointed out of the panel of names recommended by a search-cum-selection committee to be constituted by the Board consisting of—(a)the Chairperson of the Board, who shall be the Chairperson of the search-cum-selection committee;(b)one Member to be nominated by the Visitor; and(c)two Members chosen from amongst eminent administrators, industrialists, educationists, scientists, technocrats and management specialists.(3A)The procedure to be adopted for selection of the Director shall be such as may be prescribed.";(c)in sub-section (7), in the opening portion, for the words "The Board may remove from office the Director", the words "The Board, with prior approval of the Visitor, may remove from office the Director" shall be substituted;(d)after sub-section (9), the following sub-section shall be inserted, namely:—(10) The services of the Director may be terminated by the Visitor, in such manner as may be prescribed.
