for example: TATA AIG

  for example: Indian Contract Act

  for example: Ratan Tata

  for example: Negotiable Instruments Act

Section 14   [ View Judgements ]

Term of office of members


(1) Save as otherwise provided in this section, the term of office of a member of a Board shall be five years and shall commence-



(a) in case of an elected member, from the date of notification of his election under sub-section (8) of section 12, or from the date on which the vacancy has occurred to which he is elected, whichever is later; and



(b) in case of a nominated member, from the date of nomination under clauses (b) and (f) of sub-section (3), clauses (b) and (f) of sub-section (4) and clauses (b) and (f) of sub-section (5) of section 12, or the date of vacancy under clause (b) of sub-section (1) of section 18, whichever is later, and the member so nominated shall be able to take part in the proceedings of the Board:



Provided that the Central Government may, when satisfied that it is necessary in order to avoid administrative difficulty, extend the term of office of all the elected members of a Board by such period not exceeding one year, as it thinks fit:



Provided further that a member whose term of office has been so extended, shall cease to hold office on the date of the notification of the election of his successor under sub-section (8) of section 12.



(2) The term of office of an ex officio member of a Board shall continue so long as he holds the office by virtue of which he is such a member.



(3) The term of office of a member elected to fill a casual vacancy shall commence from the date of the notification of his election, and shall continue so long only as the member in whose place he is elected would have been entitled to hold office if the vacancy had not occurred.



(4) An outgoing member shall, unless the Central Government otherwise directs, continue in office until the election of his successor is notified under sub-section (8) of section 12 or the nomination of his successor, as the case may be.



(5) Any outgoing member may, if qualified, be re-elected or re-nominated.



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