Section 11 of The Reserve Bank of India Act, 1934 View Chapter 2

Removal from and vacation of office.

   (1)  The 1[Central Government] may remove from office the Governor, or a Deputy Governor or 2[any other Director or any member of a Local Board]:

   3*       *       *       *       *

   4[(2)  A Director nominated under clause (b) or clause (c) of sub-section(1) of section 8 shall cease to hold office if without leave from the Central Board he absents himself from three consecutive meetings of the Board convened under sub-section (1) of section 13.]

   (3)  The 1[Central Government] shall remove from office any Director, and the Central Board shall remove from office any member of a Local Board, if such Director or member becomes subject to any of the disqualifications specified in sub-section (1) or sub-section (2) of section 10.

   (4)  A Director or member of a Local Board removed or ceasing to hold office under the foregoing sub-sections shall not be eligible for re-appointment either as Director or as member of a Local Board until the expiry of the term for which his appointment was made.

   (5)  The 5*** nomination 6*** as Director or member of a Local Board of any person who is a member of 7 [Parliament or the Legislature 8[of any State]] shall be void, unless within two months of the date of his 5*** nomination 6*** he ceases to be such member, and if any Director or member of a Local Board is elected or nominated as a member of 9[Parliament or any such Legislature], he shall cease to be a Director or member of the Local Board as from the date of such election or nomination, as the case may be.

   (6)  A Director may resign his office to the 1[Central Government], and a member of a Local Board may resign his office to the Central Board, and on the acceptance of the resignation the office shall become vacant.

1Subs. by the M.O. 1937, for "G.G. in C.".

2Subs. by Act 32 of 1951, s. 6, for "any other Director" (w.e.f. 1-11-1951).

3The proviso omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949).

4Subs. by s. 7 and the Schedule, ibid., for sub-section (2) (w.e.f. 1-1-1949).

5The word "appointment" omitted by s. 7 and the Schedule, ibid. (w.e.f. 1-1-1949).

6The words "or election" omitted by s. 7 and the Schedule, ibid. (w.e.f. 1-1-1949).

7Subs. by the A.O. 1950, for certain words.

8Subs. by Act 32 of 1951, s. 6, for "of a Part A State or a Part C State" (w.e.f. 1-11-1951).

9Subs. by the A.O. 1950, for "any such Legislature or Council".