Casual vacancies.- (1) The

2[Chairman-cum-Managing Director], the Vice-Chairman

3[xxxxxxx] or any director referred to in clause (e) of sub- section (1) of section 7 may, at any time, resign his office by giving a notice in writing to the Government and on such resignation being accepted he shall be deemed to have vacated his office.

1. (2) If the office of the 4[Chairman-cum-Managing Director], the Vice- Vice-Chairman, 5[xxx] or any director referred to in clause (e) of sub-section
2. (1) of section 7 falls vacant by reason of his death, resignation or otherwise the vacancy shall be filled by the Government by appointment or nomination, as the case may be. CHAPTER- IV FUNCTIONS AND FUND OF THE CORPORATION