Section 88D: Power to be Automatically Suspended During the Period of Resolution

1) The power of the Directors, Chief Executive Officer and other lien on the post of the commercial bank or financial institution, which is under the process of resolution, shall be held ipso facto suspended during the period of resolution.

2) Despite whatever has been written in sub-section (1), the Special Administration Team can depute all or any of the Directors, the Chief Executive Officer, and other personnel to the post for work relating to resolution, by releasing the suspension for the sake of carrying out works prescribed by it.

3) The Special Administration Team can dismiss the person at any time who does not abide by the directives given to them for deputation to work, as per sub-section (2), at any time.

4) The person dismissed as per sub-section (3) shall not obtain any remuneration or facility from such a bank or financial institution.