Question

Every chairman of the Board of directors who is

Q: Every chairman of the Board of directors who is appointed on a whole-time basis and every managing d

BankingRegulationActSection10BBankingcompanytobemanagedbywholetimechairman2EverychairmanoftheBoardofdirectorswhoisappointedonawholetimebasisandeverymanagingdirectorofabankingcompanyshallbeinthewholetimeemploymentofsuchcompanyandshallholdofficeforsuchperiodnotexceedingfiveyearsastheBoardofdirectorsmayfixbutshallsubjecttotheprovisionsofthissectionbeeligibleforreelectionorreappointment

appointed on a whole-time basis and every managing director of a banking company shall be in the whole -time employment of such company and shall hold office for such period, ________________, as the Board of directors may fix, but shall, subject to the provisions of this section, be eligible for re-election or re-appointment

A Five years

B Exceeding five years

C Not exceeding five years

D Not exceeding seven years

E Not exceeding ten years

Practice Next