Lawgist12Meetings of Board
(1) The Board shall meet at such times and places and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be prescribed.
(2) The Chairman of the Board, or, if for any reason he is unable to attend any meeting, 1[the Managing Director and in the absence of both, the Chairman and the Managing Director] any other director nominated by the Chairman in this behalf, and in the absence of such nomination, any other director elected by the directors present at the meeting, shall preside at the meeting of the Board.
(3) All questions which come up before any meeting of the Board shall be decided by a majority of votes of the directors present and voting, and in the event of an equality of votes, the Chairman, or, in his absence, the person presiding, shall have a second or casting vote.
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1. ns. by Act 55 of 2000, s. 8 (w.e.f. 1-2-2001).
- 5 Management
- 6 Board of Directors
- 7 Term of office of Chairman and other directors, retirement and payment of fees
- 8 Term of office of Managing Director and whole-time directors, conditions of service, etc
- 9 Disqualifications
- 10 Vacation and resignation of office by directors
- 11 Casual vacancy in the office of Managing Director
- 12 Meetings of Board
- 13 Committees of National Bank
- 14 Advisory Council
- 15 Member of Board or Committee thereof not to participate in meetings in certain cases
