Regional Development Banks Act 1997 · As enacted · Part II · Management of the Bank
11. Chairman of the Board
Feedback & supportOfficial English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
The Board shall elect one of the directors of the
Board as the Chairman of the Board.
If the Chairman is by reason of illness, infirmity or absence from Sri Lanka temporarily unable to perform the duties of his office, the Board shall elect another Director to act in his place.
The Board may, without assigning any reason therefor, terminate the appointment of the Chairman of the Board and such termination shall not be called in question in any court.
The Chairman may resign from his office by letter addressed to the Board.
Subjectto the provisions of subsections (2) and (3) the term of office of the Chairman shall be his period of membership of the Board.