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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 September 1971 - onwards
  Version 3 of 3    

27. Panel for the appointment of banking Directors other than the first such Directors.

Repealed from 1 September 1971

(1) Not more than thirty nor less than ten days before the expiration by effluxion of time of the term of office of a banking Director and also as soon as conveniently may be after the office of a banking Director becomes vacant otherwise than by effluxion of time, the Board shall notify every Associated Bank in writing of such prospective or actual vacancy and shall in such, notification request such Associated Bank to cause one, and only one, representative to attend at a time and place (in this section referred to as the appointed time and place) appointed by the Board and stated in such notification to elect a panel of three persons from amongst whom such vacancy may be filled.

(2) Whenever two or three vacancies amongst the banking Directors occur at or about the same time, the Board may, if they think it convenient so to do, send to every Associated Bank one, and only one, notification under the foregoing sub-section of this section in respect of all such vacancies, and wher

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