Amendment status not verified — confirm the current text below against the official source.
(1) 3[The Chairman, the Vice-Chairman] or the Managing Director or any director referred to in clause (e) of sub-section (1) of section 7 may, at any time, 1Substituted by Punjab Act No. 11 of 2012, Section 4, on and with effect from the 20th day of August, 2010. 2Substituted for words “the Chairman” by Punjab Act No. 11 of 2012, Section 5, on and with effect from the 20th day of August, 2010. 3Substituted for words “the Chairman” by Punjab Act No. 11 of 2012, Section 6, on and with effect from the 20th day of August, 2010. Meetings of the Board. Delegation of powers to the Chairman or the Managing Director and other officers and employees. Casual vacancies. Committees. resign his office by giving a notice in writing to the Government and on such resignation being accepted he shall be deemed to have vacated his office. (2) If the office of 1[the Chairman, the Vice-Chairman] or the Managing Director or any director referred to in clause (e) of sub-section (1) of section 7 falls vacant by reason of his death, resignation or otherwise the vacancy shall be filled by the Government by appointment or nomination, as the case may be. CHAPTER IV FUNCTIONS AND FUND OF THE CORPORATION