Section 9: Meetings of the Board of Governors

9. Meetings of the Board of Governors.—(1) The meetings of the Board of Governors shall be held at least once in a year and also as and when required in such manner and at such place and time as may be prescribed. (2) No act or proceedings of the Board of Governors shall be invalid merely on the ground of the existence of a vacancy in or defect in the constitution of the Board of Governors. (3) Quorum for meetings of the Board of Governors shall be one-third of the total members and a fraction may be counted as one as, and when any such situation arises.

Effective date: 2023-04-13

Related sections