Section 10C of The Banking Regulation Act, 1949: Chairman and certain directors not to be required to hold qualification shares.
Chairman and certain directors not to be required to hold qualification shares. – [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.]
For Complete Banking Regulation Act, 1949. Click here
For other Central Acts. Click here.
