(1) If a director--
(a) becomes subject to any of the disqualifications mentioned in section 8; or
(b) is absent without leave of the Board for three or more consecutive meetings thereof,
his seat shall thereupon become vacant.
(2) Any director may resign his office by giving notice thereof in writing to the authority that appointed or, as the case may be, nominated him and on his resignation being accepted by such authority or if his resignation is not sooner accepted, on the expiry of three months from the receipt thereof by such appointing authority, he shall be deemed to have vacated his office.
(a) becomes subject to any of the disqualifications mentioned in section 8; or
(b) is absent without leave of the Board for three or more consecutive meetings thereof,
his seat shall thereupon become vacant.
(2) Any director may resign his office by giving notice thereof in writing to the authority that appointed or, as the case may be, nominated him and on his resignation being accepted by such authority or if his resignation is not sooner accepted, on the expiry of three months from the receipt thereof by such appointing authority, he shall be deemed to have vacated his office.
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Next · Section 10Casual vacancy in the office of Chairman or Managing Director. →All sections / सभी धाराएँThe National Housing Bank Act, 1987 →
More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Establishment and incorporation of National Housing Bank.Section 4 · Capital.Section 5 · Management.Section 6 · Board of Directors.Section 7 · Term of office of Chairman, Managing Director and other directors, service conditions, etc.Section 8 · Disqualifications.India Code, Government of India. Text fetched 26 Oct 2026. Source metadata reports last modification: 2019-12-02. Check the linked official text and subsequent notifications when applying a provision.