Section Provisions
THE BANK OF PUNJAB ACT, 1989 THE BANK OF PUNJAB ACT, 1989 15. Vacancies. (1) Any vacancy occurring on the Board by the death, resignation, removal or disqualification of any Director shall be filed by the remaining Directors, who shall co-opt a duly qualified person to fill the vacancy: Provided that where a vacancy occurs in the office of a Director appointed by the Government, the vacancy shall be filed only by appointment by the Government. (2) Any Director so appointed shall be deemed to have held office from the date on which the Director in whose place he is appointed was appointed; or, when such Director was co-opted or appointed under sub-section (1), from,. the date on which hid immediate predecessor As appointed, as the case maybe. (3) Any Director co-opted under sub-section (1) shall retire at the next general meeting as the case may be and the vacancy so occurring on the Board shall be filled by election as provided under this Act.