Bank of Bombay Act, 1840, 3 of 1840 (Rep., Bom. Act 10 of 1863)

Section XXIII. And it is hereby enacted, that the said Directors shall have power to appoint such Officers as may b

Repealed or not in force · As amended up to 2026-08

XXIII. And it is hereby enacted, that the said Directors shall have power to appoint such Officers as may be necessary to conduct the business of the said Bank, and to remove any officer of the said Bank, and to fix the salaries of such Officers, provided that the whole expense of the establishment of the said Bank shall not, in any one year, exceed 60, 000 Rupees, without authority from the General Meeting of the Proprietors.

Source: India Code