Section 4 in The Rajiv Gandhi Institute of Petroleum Technology Act, 2007

Title: Incorporation of Institute

Description: The Rajiv Gandhi Institute of Petroleum Technology shall be a body corporate having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and shall, by that name, sue and be sued.

Title: Constitution of Board of Governors

Description: (1) With effect from such date as the Central Government may, by notification in the Official Gazette, appoint, there shall be constituted by the Central Government for the purposes of this Act, a Board to be known as the Board of Governors consisting of the following members, namely:-- (a) the President to be appointed by the Central Government in such manner as may be provided by the Statutes: Provided that the first President shall be appointed by the Central Government on such terms and conditions as it deems fit, for a period not exceeding six months from the date the first Statutes comes into force. (b) the Director of the Institute, ex officio; (c) two persons from the Board of Directors of the promoting companies to be nominated by the Central Government. Explanation.-- For the purposes of this clause, promoting companies mean those companies contributing to the endowment fund referred to in section 25; (d) one Professor of the Indian Institute of Technology, Kanpur to be nominated by the Director of that Institute; (e) five eminent experts in the field of petroleum technology covering the entire hydrocarbon value chain having specialised knowledge or operational experience in respect of education, research, engineering and technology to be nominated by the General Council, in consultation with the Director of the Institute; (f) two Professors of the Institute to be nominated by the Senate of the Institute; and (g) one representative of the graduates of the Institute to be nominated by the Executive Committee of the Alumni Association. (2) The Registrar of the Institute shall act as the Secretary of the Board. (3) The Board shall ordinarily meet four times during a calendar year.

Title: Term of office of, vacancies among, and allowances payable to, members of Board

Description: (1) Save as otherwise provided in this section, the term of office of the President or any other member of the Board, other than ex officio members shall be three years from the date of his appointment or nomination thereto. (2) An ex officio member shall cease to be a member of the Board as soon as he vacates the office by virtue of which he is a member of the Board. (3) The term of a member nominated to fill a casual vacancy shall continue for the remainder of the term of the member in whose place he has been nominated. (4) Notwithstanding anything contained in this section, an outgoing member shall, unless the Central Government otherwise directs, continue in office until another person is nominated as a member in his place. (5) The members of the Board shall be entitled to such allowances, if any, from the Institute, as may be provided for in the Statutes, but no member other than the member referred to in clause (f) of section 5 shall be entitled to any salary.

Title: Vesting of properties

Description: On and from the appointed day and subject to the other provisions of this Act, all properties which had vested in the Society immediately before that day, shall, on and from that day, vest in the Institute.

Title: Effect of incorporation of Institute

Description: On and from the appointed day,-- (a) any reference to the Society in any contract or other instrument shall be deemed as a reference to the Institute; (b) all the rights and liabilities of the Society shall be transferred to, and be the rights and liabilities of, the Institute; and (c) every person employed by the Society immediately before the appointed day shall hold office or service in the Institute by the same tenure, at the same remuneration and upon the same terms and conditions and with the same rights and privileges as to pension, leave, gratuity, provident fund and other matters as he would have held the same if this Act had not been passed, and shall continue to be so unless and until his employment is terminated or until such tenure, remuneration and terms and conditions are duly altered by the Statutes: Provided that if the alteration so made is not acceptable to such employee, his employment may be terminated by the Institute in accordance with the terms of the contract with the employee or, if no provision is made therein in this behalf, on payment to him by the Institute of compensation equivalent to three months' remuneration in the case of permanent employees and one months remuneration in the case of other employees.