Section 10 of BRA : Section 10: Prohibition Of Employment Of Managing Agents And Restrictions On Certain Forms Of Employment
BRA
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Explanation using Example
Imagine a scenario where XYZ Bank is looking to hire a new Chief Financial Officer (CFO). As they go through the selection process, they must comply with Section 10 of The Banking Regulation Act, 1949, which imposes certain restrictions on employment within banking companies.
One of the candidates, Mr. A, has an impressive resume but has previously been convicted of fraud, an offence involving moral turpitude. Despite his qualifications, XYZ Bank cannot hire him as their CFO due to Section 10(1)(b)(i), which prohibits the employment of individu...
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