Resignation, removal and filling up of casual vacancies of nominated Directors of the Board

(1) The Chairman or any Director of the Board may resign his office by giving one month notice in writing to the Government and his resignation shall come into force on the date of receipt of the letter of resignation by the Government. (2) The Government may, at any time for reasons to be recorded in writing, remove from office the Chairman or any Director of the Board and such removal shall be made after giving him a reasonable opportunity of showing cause against the proposed removal: Provided that it shall not be necessary to record in writing the reasons for removal or to give an opportunity of showing cause against the proposed removal where the Government are of the opinion that it is not expedient in the public interest to record the reasons in writing or to give such opportunity. (3) Any casual vacancy in the office of the Director referred under sub-section (1) shall be filled up within a period of three months and the Director so nominated to fill such vacancy shall hold office only for the remaining period of the term of his predecessor. (4) The Chairman or Director resigned under sub-section (1) shall not be eligible for reappointment to the Board unless otherwise ordered by the Government. (5) The salary and other conditions of service including the travelling allowances for journeys performed in official duties by the Chairman and other Directors shall be such as may be prescribed.