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Industrial Finance Corporation Act, 1948


13A. Casual vacancy of Chairman.

If the Chairman of the Board 11*[or the Managing Director] is by infirmity or otherwise rendered incapable of carrying out his duties or is absent on leave or otherwise in circumstances not involving the vacation of his appointment, the Central Government may, after consultation 12*[with the Development Bank], appoint another person to act in his place during his absence.]

  1. Subs. by Act 78 of 1952, s. 5 for cl. (a).

  2. Subs. by Act 28 of 1955, s. 10, for "the Managing Director or the Deputy Managing Director".

  3. Ins. by Act 50 of 1986, s. 7 (w.e.f. 2-2-1987).

  4. Ins. by Act 78 of 1952, s. 5.

  5. Subs. by s. 6, ibid., for s. 13.

  6. Subs. by Act 28 of 1955, s. 11, for sub-section (1).(w.e.f. 18-9-1955).

  7. Ins. by Act 18 of 1964, s. 38 and Sch. II (w.e.f. 1-8-1964).

  8. Ins. by Act 50 of 1986 s. 8 (w.e.f. 2-2-1987).

  9. Ins. by Act 73 of 1976, s. 3.10. Subs. by Act 28 of 1955, s. 12, for s. 13A, ins. by Act 78 of
    1952, s. 7.(w.e.f. 18-9-1955).

  10. Ins. by Act 50 of 1986 s. 9 (w.e.f. 2-2-1987).

  11. Subs. by Act 18 of 1964, s. 38 and Sch. II, for "with the Board" (w.e.f. 1-8-1964).



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