RB Act 4
Section 4 · Vacation of office by existing office bearers
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On the appointed day any person who
immediately before that day was holding office as a Director of the Central Board otherwise than as
Governor or Deputy Governor or as a member of a Local Board of the Bank shall vacate his office, and
the Central Board and the Local Boards of the Bank shall thereafter be constituted in the manner
prescribed by sections 8 and 9 of the principal Act as amended by this Act.
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