Section 10C of the Banking Regulation Act, 1949 – Chairman and certain directors not to be required to hold qualification shares

Home › The Banking Regulation Act, 1949 › Part II – Business of banking companies

Section 10C: Chairman and certain directors not to be required to hold qualification shares

1[10C. Chairman and certain directors not to be required to hold qualification shares.–2[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 10A) shall not be required to hold qualification shares in the banking company.]

Source: official text of The Banking Regulation Act, 1949 as published on India Code (PDF). All sections of the Banking Regulation Act, 1949.

Related posts:

  1. The Banking Regulation Act, 1949 – All Sections
  2. Section 10B of the Banking Regulation Act, 1949 – Banking company to be managed by whole time chairman
  3. Comparison of Section of New Income Tax Bill Vs Old Income Tax Act
  4. Section 56 of the Banking Regulation Act, 1949 – Act to apply to co-operative societies subject to modifications