Section - 5 - Meetings of Board.

    (1) The Board shall meet for the despatch of its business at such times and at such places as the Chairman thereof may appoint, so, however, that the Board shall meet at least once every month.

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

    (3) 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.

    (4) The quorum at any meeting of the Board shall be four.

    (5) The Board may make bye-laws or other instruments, not inconsistent with this Act for the purpose of regulating its business or any other matter falling within the scope of its functions.

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