# 10D Provisions of sections 10A and 10B to override all other laws, contracts, etc
Any appointment or removal of a 1[director, chairman of the Board of directors who is appointed on a whole-time basis or managing director] in pursuance of section 10A or section 10B 2[or section 10BB] shall have effect and any such person shall not be entitled to claim any compensation for the loss or termination of office, notwithstanding anything contained in any law or in any contract, memorandum or articles of association.]
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1. Subs. by Act 20 of 1994, s. 5, for "director or chairman" (w.e.f. 31-1-1994). 2. Ins. by Act 1 of 1984, s. 20 (w.e.f. 15-2-1984).
BUSINESS OF BANKING COMPANIES
10A
Board of directors to include persons with professional or other experience10B
Banking company to be managed by whole time chairman10BB
Power of Reserve Bank to appoint chairman of the Board of directors appointed on a whole-time basis or a managing director of a banking company10C
Chairman and certain directors not to be required to hold qualification shares11
Requirement as to minimum paid-up capital and reserves12
Regulation of paid-up capital, subscribed capital and authorised capital and voting rights of shareholders12A
Election of new directors
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