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The Bangladesh Bank Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 127 OF 1972 )

Chapter II

ESTABLISHMENT, INCORPORATION, CAPITAL AND MANAGEMENT

15. (1) The Government may remove from office-
 
 
(a) the Governor or 1[a Deputy Governor] if he becomes permanently incapable of performing his duties or subject to any of the disqualifications specified in clause (9) of Article 10 or has done any act which is a breach of the trust reposed in him, or if his continuance in office is regarded as manifestly opposed to the interests of the Bank; and
 
 
(b) any Director.
 
 
(2) (a) The Governor, 2[a Deputy Governor] or a Director may resign his office by statement to that effect in writing signed by him and addressed to the Government;
 
 
(b) A statement of resignation by 3[a Deputy Governor] or 4[a Director] shall be addressed as above through the Governor;
 
 
(c) On the acceptance of such a resignation by the Government, the office shall become vacant;
 
 
(3) Any Director vacating office under this Article shall not be eligible to become a Director until the expiry of the term of office for which he was nominated; and
 
 
(4) In the event of a vacancy occurring, the Government shall fill the vacancy by nominating another Director.

  • 1
    The words “a Deputy Governor” were substituted for the words “the Deputy Governor” by section 7 of the Bangladesh Bank (Amendment) Ordinance, 1976 (Ordinance No. LVI of 1976)
  • 2
    The words “a Deputy Governor” were substituted for the words “the Deputy Governor” by section 7 of the Bangladesh Bank (Amendment) Ordinance, 1976 (Ordinance No. LVI of 1976)
  • 3
    The words “a Deputy Governor” were substituted for the words “the Deputy Governor” by section 7 of the Bangladesh Bank (Amendment) Ordinance, 1976 (Ordinance No. LVI of 1976)
  • 4
    The words “a Director” were substituted for the words “the Director” by section 7 of the Bangladesh Bank (Amendment) Ordinance, 1976 (Ordinance No. LVI of 1976)
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