Amendment status not verified — confirm the current text below against the official source.
Term of office of the Directors.— (1) A Director appointed under sub-section (3) of section 8 shall hold office for a period of three years from the date he assume the charge in office. (2) Notwithstanding anything contained in section 10, the Government may, at any time, for reasons to be recorded in writing, remove from office, any Director of the Board, after giving him a reasonable opportunity to show cause, against the proposed removal: Provided that it shall not be necessary to record in writing, the reason for removal or to give an opportunity to show cause against the proposed removal, if the Government are of the opinion that it is not expedient in the public interest, to record the reasons in writing or to give such opportunity. (3) Any Director may resign his membership by giving notice in writing to the Government and his resignation shall come into force on the date of receipt of the letter of resignation by the Government.