Commonwealth Numbered Acts

EXPORT FINANCE AND INSURANCE CORPORATION ACT 1974 No. 122 of 1974 - SECT 50

50. (1) Where there is a vacancy in the office of Chairman, or the Chairman
is, or is expected to be, unable (whether on account of illness or otherwise)
to attend meetings of the Board, the Minister may appoint the Deputy Chairman
or, subject to sub-section (4), another person to be acting Chairman of the
Board until the filling of the vacancy or during the inability, as the case
may be.

(2) Where there is a vacancy in the office of Deputy Chairman, or the Deputy
Chairman is, or is expected to be, unable (whether on account of illness or
otherwise) to attend meetings of the Board, the Minister may, subject to
sub-section (4), appoint a person to be acting Deputy Chairman until the
filling of the vacancy or during the inability, as the case may be.

(3) Where there is a vacancy in the office of an appointed member (other than
the Chairman or Deputy Chairman), or an appointed member (other than the
Chairman or Deputy Chairman) is unable (whether on account of illness or
otherwise) to attend meetings of the Board, the Minister may, subject to
sub-section (4), appoint a person to be an acting member until the filling of
the vacancy or during the inability, as the case may be.

(4) A person may be appointed under this section as acting Chairman, as
acting Deputy Chairman or as an acting member whether or not he is a member of
the Board, but the Managing Director, the Deputy Managing Director or a person
acting as Managing Director or Deputy Managing Director shall not be so
appointed.

(5) For the purposes of this section-

   (a)  there shall be deemed to be a vacancy in the office of Deputy Chairman
        at any time when the Deputy Chairman is acting Chairman; and

   (b)  there shall be deemed to be a vacancy in the office of an appointed
        member (other than the office of Chairman or Deputy Chairman) at any
        time when the person occupying that office is acting Chairman or
        acting Deputy Chairman.

(6) An acting Chairman, an acting Deputy Chairman or other acting member of
the Board appointed by reason of the office of Chairman, Deputy Chairman or
other appointed member, as the case may be, being vacant shall not continue in
office after the expiration of 12 months after the occurrence of the vacancy.

(7) The Minister may-

   (a)  determine the terms and conditions of appointment of a person
        appointed under this section; and

   (b)  at any time terminate such an appointment.

(8) The validity of a decision of the Board shall not be questioned in any
proceedings on a ground arising from the fact that the occasion for the
appointment of a person purporting to be appointed under this section had not
arisen or an appointment under this section had ceased to have effect.