Meeting of the Board
17. (1) The meetings of the Board shall be held at such times and at such places as may be prescribed by regulations:
Provided that at least one meeting shall be held in a month:
Provided further that until such regulations are made in this behalf, such meetings shall be held at such times and at such places as may be determined by the Chairman.
[(2) The number of Directors necessary for a quorum for transacting business at a meeting of the Board shall be three.]
(3) Each Director, including the Chairman, shall have one vote but, in the event of an equality of votes, the Chairman shall have a second or casting vote.
(4) The meetings of the Board shall be presided over by the Chairman, and, in his absence, by a Director authorised by him in this behalf, and, in default of such authorisation, by a person elected for the purpose by the Directors present from among themselves.
(5) The minutes of every meeting, stating among other things, the names of the Directors present, shall be drawn up and recorded in a book to be kept for the purpose, and shall be signed by the person presiding at the meeting, and such book shall, at all reasonable times and without charge, be open to inspection of any Director.