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.

At a meeting of the Board regarding a matter, the following trustee presides for the matter:

A trustee referred to in paragraph (2)(b) or (c) may exercise all the powers and functions of the Chairman for the purposes of that 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 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 at least 4 trustees who are 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.

Where a decision of the Board at a meeting regarding a matter is not presided by the Chairman for a reason other than he being interested in the matter, the decision is not effective unless the Chairman consents in writing to that decision.