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PART V
Management of Building Societies
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Directors.
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48.—(1) A building society shall have at least 3 directors.
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(2) A society shall not have as a director a body corporate.
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(3) The directors shall appoint from among their number a chairman of the board of directors.
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(4) The chairman of the board of directors shall not also be the chief executive of the society except with the consent of the Central Bank.
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