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Section 25 – The State Bank of India Act,1955

The State Bank of India Act,1955

Section 25. Casual vacancies

(1) If the chairman, 1[***] or a managing director is rendered incapable of discharging his duties by reason of infirmity or other wise or is absent on leave or otherwise in circumstances not involving the vacation of his office, the Central Government may, in the case of the Chairman or vice-chairman, in consultation with the Reserve Bank and after considering the recommendations of the Central Board, and the Central Board may, in the case of a managing director, with the approval of the Central Government, appoint another person to officiate in the vacancy.

(2) Where any vacancy occurs before the expiry of the term of office of a director, other than the chairman, 1[***] or a managing director, the vacancy shall be filled-

(a) In the case of an elected director, by election; and

(b) In the case of a director nominated under clause (d) of sub-section (1) of section 19, by nomination 1[***]:

Provided that where the duration of the vacancy in the office of an elected director is likely to be less than six months, the vacancy may be filled by the remaining directors by co-opting a person not disqualified under section 22.

(3) A person elected or nominated or co-opted, as the case may be, under this section shall hold office for the unexpired portion of the term of his predecessor.

——————–

1. Omitted by Act 27 of 2010 w.e.f. 24-8-2010.

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The State Bank of India Act,1955

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