Section 9B: Meetings of the Board of Directors

9B. Meetings of the Board of Directors.⸺(1) At least six meetings of the Board shall be held in a financial year and as frequently as is necessary for the purpose of discharging its responsibilities under this Act. (2) Meetings of the Board shall be convened by the Chairperson or at the written request of any three members of the Board. (3) The quorum for a Board meeting shall be four members, including the Chairperson. (4) Each member of the Board shall have one vote and in the event of an equality of votes, the person chairing the meeting shall be entitled to a casting vote. (5) Except as otherwise provided in this Act, decisions of the Board shall be adopted by a majority of the Board members present and voting at the meeting. (6) A resolution in writing together with the necessary documents, approved by all the directors of the Board for the time being entitled to receive notice of a meeting of the Board shall be as valid and effectual as if it had been passed at a meeting of the Board duly convened and held. A resolution under this sub-section shall be noted at a subsequent meeting of the Board and made part of the minutes of such meeting. (7) Any or all the documents sent to the Directors, including by email or any other electronic mode shall be considered a valid document. (8) The acts done by the Board shall be valid notwithstanding the fact that the appointment of any person as a member of the Board is defective or any person was disqualified for such appointment.

Effective date: 1956-04-18

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