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[Cites 0, Cited by 0] [Section 33] [Entire Act]

Union of India - Subsection

Section 33(1) in The State Bank Of India (Subsidiary Banks) Act, 1959

(1)Where any vacancy occurs before the expiry of the term of office of a director of a subsidiary bank, [other than the managing director or a director appointed under clause (ca) or clause (cb) of sub-section (1) of section 25] [Inserted by Act 43 of 1973, Section 27 (w.e.f. 1-7-1974)] the vacancy shall be filled--
(a)in the case of a director nominated under clause (c) of sub-section (1) of section 25, not being an officer of the State Bank, by nomination by the State Bank;
(b)in the case of a director elected under clause (d) of sub-section (1) of section 25, by election or where the proviso to that clause is applicable, by nomination by the State Bank:
Provided that where the duration of the vacancy in the office of an elected director is likely to be less than six months, the vacancy may be filled by the remaining directors by co-opting a person from amongst the shareholders entitled to elect a director under clause (d) of sub-section (1) of section 25 who is not disqualified under section 27;
(c)in the case of a director nominated under clause (e) of sub-section (1) of section 25, not being an officer of the Central Government, by nomination by that Government in consultation with the State Bank.