Act Info:
(1) A nominated director, other than the managing director , shall hold office during the pleasure of the authority nominating him and the period of such office, unless terminated earlier, shall be two years.
Provided that a nominated director shall be eligible for renomination.
(2) An elected director shall hold office for a period of two years from the date of his election;
Provided that an elected director shall continue in office until the election of his successor.