1[36AB. Power of Reserve Bank to appoint additional directors.—(1) If the Reserve Bank is of 2[opinion that in the interest of banking policy or in the public interest or] in the interests of the banking company or its depositors it is necessary so to do, it may, from time to time by order in writing, appoint, with effect from such date as may be specified in the order, one or more persons to hold office as additional directors of the banking company.

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(2) Any person appointed as additional director in pursuance of this section—

(3) For the purpose of reckoning any proportion of the total number of directors of the banking company, any additional director appointed under this section shall not be taken into account.]1. Ins. by Act 55 of 1963, s. 18 (w.e.f. 1-2-1964). 2. Subs. by s. 14, ibid., for "opinion that " (w.e.f. 1-2-1969). 3. Proviso omitted by Act 1 of 1984, s. 31 (w.e.f. 15-2-1984).