In section 21C of the principal Act, for sub-section (2), the following sub-section shall be substituted, namely:-
(2) The chairman or the managing director nominated by him shall be an ex office member of every such Local Committee.
In section 22 of the principal Act, in sub-section (1),-
(a) In clause (d), the word "vice-chairman" shall be omitted;
(b) For clause (h), the following clause shall be substituted, namely:-
(h) In the case of an elected director, he is not registered as a holder in his own right of unencumbered shares in the State Bank, either as sole holder or as first named holder when jointly held, of a nominal value of at least five thousand rupees:
In section 23 of the principal Act, in clause (b), the word", vice- chairman" shall be omitted.
In section 24 of the principal Act, -
(a) In sub-section (1), the word ", vice-chairman" shall be omitted;
(b) In sub-section (3), the words "after consulting the Reserve Bank," shall be omitted.
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