Section - 14 - Meetings of Board

    (1) The Board shall ordinarily meet for the despatch of business at such times and at such places as the Board may determine but shall meet at least once in every month.

    (2) A special meeting of the Board shall be called upon a written request signed by the Chairman or by a majority of the members of the Board addressed to the Secretary of the Board and the Chairman shall call such a special meeting within ten days after receipt of such a request.

    (3) At every meeting of the Board at which he is present, the Chairman shall preside and in his absence a member of the Board elected by the members present from among themselves shall preside.

    (4) Questions proposed at a meeting of the Board shall be determined by a simple majority of members present and voting and in the event of an equality of votes the person presiding shall have a second or casting vote.

    (5) The quorum at any meeting of the Board shall be five.

    (6) The Board may at any time co-opt any person or persons to act as an adviser or advisers at any of its meetings, so however that no person so co-opted shall be entitled to vote at any such meetings on any matter for decision by the Board.

    (7) The validity of any proceedings of the Board shall not be affected by any vacancy among its members or by any defect in the appointment of any of them.

    (8) Any such co-opted member or members shall be entitled to such allowances as the Minister responsible for Finance may approve.