Reserve Bank of India Act : Meeting of the Central Board Indian Bare Acts :

Reserve Bank of India Act,1934

Act No : 2

Section : Meeting of the Central Board

13. Meeting of the Central Board.- (1) Meetings of the Central Board shall be convened by the Governor at least six times in each year and at least once in each quarter. (2) Any 8*[four Directors] may require the Governor to convene a meeting of the Central Board at any time and the Governor shall forth with convene a meeting accordingly. (3) The Governor, or 9*[if for any reason, he is unable to attend,] the Deputy Governor authorised by the Governor under the proviso to sub-section (3) of section 8 to vote for him, shall preside at meetings of the Central Board, and, in the event of an equality of votes, shall have a second or casting vote. ---------------------------------------------------------------------- 1. Sub-section (2) was rep. by Act 62 of 1948, s. 7 and Sch. (w.e.f. 1-1-1949). 2. The words "otherwise than by the occurrence of a vacancy in the office of a Director elected by the Local Board" were rep., ibid. 3. The word "qualified" was rep., ibid. 4. Subs., ibid., for "elected". 5. Subs. ibid., for certain words. 6. The words "or elected" were rep., ibid. 7. The words "subject to the proviso contained in sub-section (4)" were rep., ibid. 8. Subs. by Act 18 of 1964, s. 38 and Sch. II, for "three Directors" (w.e.f. 1-7-1964). 9. Subs. by Act 24 of 1955, s. 5, for "in his absence". 18