https://www.taxtmi.com/acts?id=15351 Right of a Government nominee to occupy board seats in a multi State co operative society is determined by the extent of the Central or State Government's equity subscription, with incremental nomination entitlements tied to increasing shareholding bands and subject to a statutory cap not to exceed a proportion of the board. Where the Government has provided guarantees, loans, grants or other assistance, it or its authorised representative also acquires a prescribed right to nominate a director in the manner required by regulation. Nominees hold office during the pleasure of the nominating Government. en-us Wed, 21 Sep 2011 12:58:37 +0530 Mon, 08 Jul 2024 12:17:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15351 Right of a Government nominee to occupy board seats in a multi State co operative society is determined by the extent of the Central or State Government's equity subscription, with incremental nomination entitlements tied to increasing shareholding bands and subject to a statutory cap not to exceed a proportion of the board. Where the Government has provided guarantees, loans, grants or other assistance, it or its authorised representative also acquires a prescribed right to nominate a director in the manner required by regulation. Nominees hold office during the pleasure of the nominating Government. Act-Rules Trust and Society Wed, 21 Sep 2011 12:58:37 +0530 https://www.taxtmi.com/acts?id=15351