Amendment status not verified — confirm the current text below against the official source.
(1) The Corporation shall establish its head office at such place in the State as the State Government may specify and may, with the previous sanction of the State Government, establish offices or agencies in any other place in the State. 110 The West Bengal Industrial Infra-structure Development Corporation Act, 1974. XXV of 1974.] (Chapter IL—Establishment and Constitution of the Corporation.—Section 8.) (2) The Corporation shall meet at such times and places, and shall, subject to the provisions of sub-section (3), observe such rules of procedure in regard to the transaction of its business as may be provided by regulations made under this Act. (3) When any contract or loan is proposed to be entered into or taken by or on behalf of the Corporation, such proposal shall be circulated amongst the members of the Corporation, and any member who is directly or indirectly concerned or interested in any such contract or loan shall, within a week from the date of such communication, disclose in writing to the Corporation the nature, kind and extent of his aforesaid interest in such contract or loan, and such member shall not be present at the meeting or meetings of the Corporation in which any such proposal is discussed, unless his presence is required by the other members for the purpose of eliciting information in connection therewith, but no member so required to be present shall vote on any such contract or loan : Provided that a member shall not be deemed to be concerned or interested as aforesaid by reason only of his being a shareholder of a company concerned or interested in any such contract or loan. S. (1) If a member— (a) becomes subject to any of the disqualifications mentioned in section 5, or (b) is absent, without the Corporation's permission, from three consecutive meetings of the Corporation, or from all meetings of the Corporation during any three consecutive months, he shall, with immediate effect, cease to be a member of the Corporation, and shall be deemed to have vacated his office from the date of such cessation. (2) The Chairman, or the Vice-Chairman, if any, or any other member of the Corporation may resign his office by giving notice in writing to the State Government and on such resignation being accepted, shall be deemed to have vacated his office. (3) The State Government may, by order, remove from office, any member of the Corporation, who, in its opinion,— (a) has refused to act, or (b) has become incapable of acting, or (c) has so abused his position as member as to render his continuance on the Corporation detrimental to the interest thereof or of the general public, or Cessation of membership and removal from office of members. 111 The West Bengal Industrial Infra-structure Development Corporation Act, 1974. [West Ben. Act (Chapter IL—Establishment and Constitution of the Corporation.— Sections 9-12.) (d) is otherwise unfit to continue as a member: Provided that a member shall not be removed from office unless he has been given reasonable opportunity to show cause against the proposed removal.