Clause 10

The Chairman shall summon meetings of the Board as often as may be necessary but not less frequently than once in three months.

At every meeting of the Board, a quorum shall consist of four directors, and decisions shall be adopted by a simple majority of the votes of the directors present and voting, except in the case of an equality of votes when the Chairman, or the person presiding at the meeting, shall have a casting vote.

The Chairman, or in his absence the Deputy Chairman, shall preside at meetings of the Board. If both the Chairman and the Deputy Chairman are absent from a meeting of the Board, such director as the directors present shall select shall preside at the meeting.

Subject to the provisions of subsection (2), the Board shall not be precluded from holding any meeting or acting in any matter merely by reason of any vacancy in its membership.

Subject to the provisions of this Act, the Board may prescribe rules to regulate its own proceedings, and in particular, the holding of meetings, the notice to be given of such meetings, the proceedings thereat, the keeping of minutes and the custody, production and inspection of such minutes.