Regional Development Banks Act 1997 · As enacted · Part II · Management of the Bank
10. The First Board of Directors
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The First Board of Directors to be constituted for the Bank shall consist of nominated directors nominated in the manner specified in section 8 of this Act, and such Board shall continue to function-as the Board of Directors of the Bank until such time as the election of elected directors under section 9 at an Annual General Meeting of the shareholders to be held at any time thereafter.
The provisions of section 8 relating to vacation of office by death, resignation or removal and the temporary absence of a nominated member of the Board, shall apply to and in respect of the members of the First Board of Directors.