Section Text
1) If a director,— (a) becomes, subject to any of the disqualifications mentioned in section 5; or (b) tenders his resignation in writing to, and such resignation is accepted by, the Government; or (c) is absent without the Corporation’s permission from three consecutive meetings of the Corporation, or from all meetings of the Corporation for three consecutive months; or (d) is convicted of an offence involving moral turpitude,- he shall cease to be a director of the Corporation.
(2) The Government may, by order, suspend from office for such period as it thinks fit, or remove from office any director of the Corporation, who in its opinion,— (a) has refused to act; or (b) has become incapable of acting; or (c) has so abused his position as director as to render his continuance on the Corporation detrimental to the interest thereof or of the general public; or -4-
(d) is otherwise unfit to continue as director.
Provided that, a director shall not be suspended or removed from office unless he has been given a reasonable opportunity to show cause against the order.