AGRICULTURAL DEVELOPMENT CREDIT AND CO-OPERATIVE BANK ACT - 1965 (ACT 286)

Section - 8 - Managing Director

(1) The Managing Director shall be a person of recognised financial or banking experience and shall be appointed by the Member of the Council responsible for Finance; he shall be eligible for re-appointment for a period not exceeding five years on such salary and terms and conditions of service as may be specified in his letter of appointment. [As amended by the Agricultural Development Bank Act, 1965 (Amendment) Decree, 1967 (NLCD 182) s. 6]

(2) The Managing Director shall be the Chief Executive Officer of the Bank and shall on behalf of the Board direct and control the day to day affairs of the Bank subject to such regulations as the Board may make under this Act.

(3) Except as otherwise directed by the Minister, the Managing Director shall devote his whole time to the affairs of the Bank.