Every director and every member of a committee shall be paid such fees and allowances as the Board may, by regulations, determine, for attending the meetings of the Board or, as the case may be, any of its committees, or attending to any other work of the Corporation:
Provided that no fees shall be paid to the Chairman, managing director or any other director , if he is an officer of the Government , Reserve Bank, State Bank, subsidiary bank,1[corresponding new bank], banking company or Food Corporation.
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1. Inserted by the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970 (5 of 1970) w.e.f. 19-07-1969.