Section 11. Certain words omitted by Act 3 of 1994, s. 14 (w.e.f. 15-10-1993)

11. Certain words omitted by Act 3 of 1994, s. 14 (w.e.f. 15-10-1993). 12. Sub-section (5) omitted by s. 14, ibid . (w.e.f. 15-10-1993). 13. The words, bracket and figure "or sub-section (2)" omitted by Act 73 of 1976, s. 4 (w.e.f. 11-6-1976). 14. Ins. by Act 27 of 2010, s. 19 (w.e.f. 15-9-2010). be exercised and discharged by the Administrator appointed under sub-section (2): Provided that the powers exercised by the Administrator shall be valid notwithstanding that such power is also exercisable by a resolution passed in the general meeting of the State Bank. (5) The Central Government may, in consultation with the Reserve Bank, constitute a committee of three or more persons who have experience in law, finance, banking, economics or accountancy to assist the Administrator in the discharge of his duties. (6) The committee shall meet at such times and places and observe such rules of procedure as may be specified by the rules made under this Act. (7) The salary and allowances of the Administrator and the members of the committee shall be such as may be specified by the rules made under this Act and be payable by the State Bank. (8) On and before the expiration of two months before the expiry of the period of supersession of the Central Board, the Administrator of the State Bank shall call the general meeting of the State Bank to elect new directors and re-constitute the said Board. (9) Notwithstanding anything contained in any other law for the time being in force or in any contract, no person shall be entitled to claim any compensation for the loss or termination of his office on supersession of the Central Board. (10) The Administrator appointed under sub-section (2) shall vacate office immediately after the re-constitution of the Central Board.]