Section 54 in The Orissa State Financial Corporation General Regulations, 2003
54. Proposal of Candidates for Directorship.
- (i) No candidates for election as a Director of the Board shall be validly proposed unless:-(a)he is, on the last date for receipt of proposals, not disqualified to be a director under Section 12 and who has not been removed earlier under Section 13;(b)he is proposed by at least two shareholders :(c)the nomination is in writing signed by the shareholders or by their duly constituted attorneys, provided that a nomination by a shareholder who is a body corporate may be made by a resolution of the Directors of the said body corporate and where it is so made, a copy of the resolution certified to be a true copy by the Chairman of the meeting at which it was passed or by the Secretary, or the Chief/Vice Chief, Executive Officer of that body corporate shall be despatched to the Head Office of the Corporation and such copy shall be deemed to be a nomination on behalf of such body Corporate:(d)the nomination contains a declaration signed by the candidate before a Judge, Magistrate, Registrar or Sub-Registrar of Assurances, or other Government Gazetted Officer or an officer of nationalised Bank or of the Corporation not below the rank of Manager, that he accepts the nomination and is willing to stand for election, and that he is not disqualified for election under Section 12 or earlier removed under Section 13.(ii)No nomination shall be valid unless it is complete in all respects and received in the Head Office of the Corporation on a working day not less than 14 clear days before the date fixed for the election.
