Amendment status not verified — confirm the current text below against the official source.
Term of office of the Directors. - (1) The term of office of the Director other than an ex-officio Director appointed under sub-section (3) of section 9 shall be three years. (2) Notwithstanding anything contained in sub-section (1), the Government may, at any time, for reasons to be recorded in writing, remove from his office any director of the Board and such removal shall be made after giving him a reasonable opportunity of showing cause against the proposed removal: Provided that it shall not be necessary to record in writing, the reasons for removal or to give an opportunity of showing 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 office by giving notice in writing to the Government but he shall continue in office till the resignation is accepted by the Government.