Sri Lanka Consolidated Acts

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State Mortgage And Investment Bank Law (No. 13 of 1975) - Sect 14

Chairman oil the Board

14.
(1) The Minister shall appoint from among the directors the Chairman of the Board. The Chairman shall preside at every meeting of the Board at which he is present and shall have a second or casting vote in all cases of an equality of votes. In the absence of the Chairman, the directors present at a meeting shall choose one of their number to preside who shall for that meeting have all the powers of the Chairman including the right to a casting vote.
(2) Where a director who has been appointed the Chairman of the Board, is granted leave of absence for any period, the Minister shall make a new appointment, from among the directors, of a Chairman for that period.


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