THE RESERVE BANK OF INDIA ACT, 1934 · INCORPORATION, CAPITAL, MANAGEMENT AND BUSINESS
Section 11 — Removal from and vacation of office
(1)The 3[Central Government] may remove from office the Governor, or a Deputy Governor or 4[any other Director or any member of a Local Board]:
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6[(2) A Director nominated under clause (b) or clause (c) of sub-section(1) of section 8 shall cease to hold office if without leave from the Central Board he absents himself from three consecutive meetings of the Board convened under sub-section (1) of section 13.]
(3)The 3[Central Government] shall remove from office any Director, and the Central Board shall remove from office any member of a Local Board, if such Director or member becomes subject to any of the disqualifications specified in sub-section (1) or sub-section (2) of section 10.
(4)A Director or member of a Local Board removed or ceasing to hold office under the foregoing sub-sections shall not be eligible for re-appointment either as Director or as member of a Local Board until the expiry of the term for which his appointment was made.
(5)The 7*** nomination 8*** as Director or member of a Local Board of any person who is a member of 9[Parliament or the Legislature 10[of any State]] shall be void, unless within two months of the date of his 7*** nomination 8*** he ceases to be such member, and if any Director or member of a Local Board is elected or nominated as a member of 11[Parliament or any such Legislature], he shall cease to be a Director or member of the Local Board as from the date of such election or nomination, as the case may be.
(6)A Director may resign his office to the 3[Central Government], and a member of a Local Board may resign his office to the Central Board, and on the acceptance of the resignation the office shall become vacant.