12. Casual Vacancies and absences

(1) If the Governor or a Deputy Governor by infirmity or otherwise is rendered incapable of executing his duties or is absent on leave or otherwise in circumstances not involving the vacation of his appointment, the ¹[Central Government] may, after consideration of the recommendations made by the Central Board in this behalf, appoint another person to officiate for him, and such person may, notwithstanding anything contained in clause (d) of sub-section (1) of section 10, be an officer of the Bank.

²[* * * * *]

(3) Where any casual vacancy in the office of any member of a Local Board occurs ³[* * *], the Central Board may nominate thereto any ⁴[* * *] person recommended by the ⁵[other] members of the Local Board.

(4) Where any casual vacancy occurs in the office of a Director other than the vacancies provided for in sub-section (1), the vacancy shall be filled ⁶[by the Central Government].

(5) A person nominated ⁷[* * *] under this section to fill a casual vacancy shall ⁸[* * *] hold office for the unexpired portion of the term of his predecessor.

Note:

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

^2. Sub-section (2) omitted by Act 62 of 1948, s.7 and Sch. (w.e.f. 1-1-1949).

^3. The words "otherwise than by the occurrence of a vacancy in the office of a Director, elected by the Local Board" omitted by s.7 and Sch., Act 62 of 1948, (w.e.f. 1-1-1949).

^4. The word "qualified" omitted by s.7 and Sch., Act 62 of 1948 (w.e.f. 1-1-1949).

^5. Subs. by s.7 and Sch., Act 62 of 1948, for "elected" (w.e.f. 1-1-1949).

^6. Subs. by s.7 and Sch., Act 62 of 1948, for certain words (w.e.f. 1-1-1949).

^7. The words "or elected" omitted by s.7 and Sch., Act 62 of 1948, (w.e.f. 1-1-1949).

^8. The words "subject to the proviso contained in sub-section (4)" omitted by s.7 and Sch., Act 62 of 1948 w.e.f. 1-1-1949).