Regulation 5

For the purpose of exercising its functions under the Act and these Regulations, the Board shall meet on such date and at such place and time as the Chairman may determine.

In the absence of the Chairman, such trustee as the Chairman designates to act on his behalf shall preside at the meeting.

Subject to these Regulations, all matters arising at any meeting of the Board shall be determined by a simple majority of the trustees and a determination by a simple majority of the trustees shall for all purposes be a determination of the Board.

Subject to these Regulations, matters arising at a meeting of the Board may be determined by a simple majority of votes and, in the event of an equality of votes, the Chairman or, in his absence, the trustee presiding shall have a casting vote in addition to his original vote.

The Board may, if it thinks fit, transact its business by the circulation of papers, and a resolution in writing, signed by a simple majority of the trustees required by regulation 4(2) to be present at any meeting of the Board and those for the time being entitled to take part in the determination in respect thereof shall be valid and effectual as if it had been passed at a meeting of the Board duly convened and held.

Any such resolution may consist of several documents in like form, each signed by one or more trustees.

No decision of the Board on any matter made at any meeting where the Chairman is absent shall have effect unless the consent of the Chairman in writing under his hand has been obtained therefor.