Section 18: Removal of Directors and Members

18. Removal of Directors and Members.___(1) The shareholders may, by a special resolution passed by the votes of shareholders holding in the aggregate more than one half of the paid-up capital for the time being, removed any Director, other than a Director appointed by the 2[Federal Government], before the expiration of his period of office, and appoint in his stead a qualified person who shall hold office subject to sub-section (2) of section 21. (2) The shareholders on a branch register may, by a special local resolution passed by the votes of shareholders holding in the aggregate more than one half of the paid-up capital for the time being on the branch register concerned, remove any Member, other than a Member appointed by the 2[Federal Government] or the Central Board of the Local Board concerned, before the expiration of his period of office, and appoint in his stead a qualified person who shall hold office subject to sub-section (2) of section 21. (3) Directors and Members appointed by the 2[Federal Government] and the Central Board may be removed and replaced by other Director and Members at the discretion of the appointing authorities concerned.

Effective date: 1949-01-01

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