Principal officers.

16. ¹[(1) The Central Government may, in consultation with the Corporation, appoint a director general and a financial commissioner].

(2) The director general shall be the chief executive officer of the Corporation.

(3) ²[The director general and the financial commissioner] shall be whole-time officers of the Corporation and shall not undertake any work unconnected with their office without the sanction of the Central Government ³[and of the Corporation].

(4) ²[The director general and the financial commissioner] shall hold office for such period, not exceeding five years, as may be specified in the order appointing him. An outgoing ²[The director general and the financial commissioner] shall be eligible for re-appointment if he is otherwise qualified.

(5) ²[The director general and the financial commissioner] shall receive such salary and allowances as may be prescribed by the Central Government.

(6) A person shall be disqualified from being appointed as or for being ²[The director general and the financial commissioner] if he is subject to any of the disqualifications specified in section 13.

(7) The Central Government may at any time remove ²[The director general and the financial commissioner] from office and shall do so if such removal is recommended by a resolution of the Corporation passed at a special meeting called for the purpose and supported by the votes of not less than two-thirds of the total strength of the Corporation.

Note:

1. Subs. by s. 6, ibid., for sub-section (1) (w.e.f. 20-10-1989).

2. Subs. by s. 6, ibid., for “The Principal Officers” (w.e.f. 20-10-1989).

3. Ins. by Act 44 of 1966, s. 10 (w.e.f. 17-6-1967).