Chapter- 4 Provisions on Board of Directors and Chief Executive

Section 26: Sub-Committees may be formed

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1) Except otherwise expressly provided for in this Act that particular work shall be carried out by any specific agency or official, the Board of Directors may form one or more sub-committee/s for any particular purpose subject to the directives of the Rastra Bank.

Provided that the Chairperson of the Board of Directors shall not be allowed to remain in the sub-committee.

2) The functions, duties, powers and rules of procedure of the sub-committee formed pursuant to sub-section (1) and the remuneration or allowances receivable by the member for attending its meetings shall be as prescribed by the Board of Directors and such functions carried out by such sub-committee and expenditures incurred thereof shall be clearly mentioned in the annual report.

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Section 26: Sub-Committees may be formed

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