10C. [ Chairman and certain directors not to be required to hold qualification shares. [Substituted by Act 1 of 1984, Section 19, for Section 10-C (w.e.f. 15.2.1984).]
[A chairman of the Board of directors who is appointed on a whole-time basis or a managing director] of a banking company (by whomsoever appointed) and a director of a banking company (appointed by the Reserve Bank under section 10-A) shall not be required to hold qualification shares in the banking company.]
