[9. (1) The Board of Directors of the Bank shall consist of the following Directors, namely:-
(a) three persons to be appointed by the Government,
(b) nine persons to be elected by the borrower-shareholders in the manner prescribed by rules.
(2) Notwithstanding anything contained in sub-section (1), the Managing Director shall be an ex-officio Director of the Board, but he shall have not right to vote.]
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