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Bare acts > Banking Regulation Act, 1949 > Section 10C
 
 
  

10C. Chairman and certain directors not to be required to hold qualification shares. —Chairman of the board of directors who is appointed on a whole-lime basis or a managing director of a banking company (by whomsoever appointed) and a director of a banking company (appointed by the Reserve Bank under section 10A) shall not be required to hold qualification shares in the banking company.

 

 
 

 

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