7. (1) The meetings of the Board shall be held at such times and places as may be prescribed: Provided that until so prescribed, such meetings shall be held at such times and places as may be determined by the Chairman. (2) To constitute a quorum at a meeting of the Board not less than three members shall be present. ¹[(3) All meetings of the Board shall be presided over by the Chairman or, in his absence, by the Vice-Chairman and, in the absence of both the Chairman and the Vice-Chairman, by a member elected for that purpose by the members present.] (4) At a meeting of the Board, each member shall have one vote, and, in the event of an equality of votes, the ²[person presiding] shall have a second or casting vote. (5) No act or proceeding of the Board shall be invalid merely on the ground of existence of any vacancy in, or any defect in the constitution of, the Board.