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Section 16 – State Bank of India (Amendment) Act,2010

State Bank of India (Amendment) Act,2010

Section 16. Amendment of Section 22

In Section 22 of the principal Act, in sub-section (1),-

(a)in clause (d), the word “vice-chairman” shall be omitted;

(b)for clause (h), the following clause shall be substituted, namely

“(h) in the case of an elected director, he is not registered as a holder in his own right of unencumbered shares in the State Bank, either as sole holder or as first named holder when jointly held, of a nominal value of at least five thousand rupees:”

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State Bank of India (Amendment) Act,2010

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