Central Bank Act, 1942

The Deputy Governor.

22.—(1) Whenever the Governor is temporarily unable, by reason of absence, ill-health, or any other cause, to discharge the duties of his office, he may appoint any one of the Directors to act as Deputy Governor during such inability and, if he fails so to do, the Board may appoint any one of the Directors to act as aforesaid.

(2) Whenever the office of Governor becomes vacant, the Board may appoint any one of the Directors to act as Deputy Governor during such vacancy, but no Director so appointed shall act as Deputy Governor after the expiration of three months from the occurrence of the vacancy which occasioned his appointment.

(3) A Director appointed under this section to act as Deputy Governor shall, while so acting, have, exercise, and perform such of the rights, powers, and duties of the Governor as shall be delegated to him by the Governor or, where he is appointed by the Board, by the Board.

(4) A Director appointed under this section to act as Deputy Governor shall, while so acting, be paid such (if any) remuneration and allowances as the Board shall determine.

(5) A Director appointed under this section to act as Deputy Governor shall not, by reason of such appointment, vacate his office as Director.