Central Bank Act, 1997
|
PART VII Miscellaneous | ||
|
Amendment of section 24 of Act of 1942. |
50.—The following section is hereby substituted for section 24 (as amended by section 14 of the Act of 1989) of the Act of 1942: | |
“24.—(1) Every Director of the Board (other than a service Director) shall, unless he sooner dies, resigns or becomes disqualified, hold office for a period of five years from the date of appointment. | ||
(2) Every service Director shall hold office at the pleasure of the Minister and may be removed by the Minister at any time. | ||
(3) This section shall apply to every Director of the Bank who holds office on the commencement of section 50 of the Central Bank Act, 1997.”. |