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Section 14 - National Bank for Financing Infrastructure and Development Act, 2021
14. Defects in appointment not to invalidate acts, etc.-
(1) No act or proceeding of the Board or of any of its committee shall be questioned on the ground merely of the existence of any vacancy in, or defect in the constitution of, the Board or the committee, as the case may be.
(2) No act done by any person acting in good faith as a director of the Board or as a member of its committee shall become invalid merely on the ground that he was disqualified to be a director or that there was any other defect in his appointment.
Related Sections
- Section 9: Term of office and other terms and conditions of service of Chairperson and other directors of Board
- Section 31: Powers of Central Government to make rules
- Section 3: Establishment and incorporation of Institution
- Section 5: Authorised share capital
- Section 33: Rules and regulations to be laid before Parliament
Related Acts
- Farmers Produce Trade and Commerce (Promotion and Facilitation) Act, 2020
- Repealing and Amending (Second) Act, 2017
- Dadra and Nagar Haveli and Daman and Diu (Merger of Union Territories) Act, 2019
- Commission for Air Quality Management in National Capital Region and Adjoining Areas Act, 2021
- Insolvency and Bankruptcy Code (Amendment) Act, 2017
* Only for reference.