Bussiness of Board

§6

Summary

6.(1) All nominated members of the Board shall have one (1) vote. (2) The ex-officio members of the Board shall not have any vote, but will be entitled to participate and express opinion in deliberations of the Board. (3) The quorum of the Board shall be not less than seven (7) members including at least five nominated members and two ex-officio members. (4) The Board shall meet once every three (3) months and at such other times and frequency as may be deemed necessary by the Board. (5) A notice of fifteen days, effective from the date of notification will be necessary for carrying out the meetings. However, an emergent meeting may be carried out dispensing any requirement of time in the manner so determined by the Board by means of rules. (6) All resolutions of the Board shall be carried out by a vote of simple majority unless required to be passed by a special majority in respect of certain subjects under this Act. (7) The Board shall appoint in its first meeting and thereafter from time to time upon vacancy a Chairman, a General Secretary and a Treasurer and such office bearers and committees and sub-committees who shall hold such office till they cease to be a member of the Board or unless removed by a resolution of 2/3 members present and voting of at least half the total membership of the Board. (8) Any one or more trustee of the Board other than ex-officio trustees can be removed by a resolution of 2/3rd members present and voting of at least half the total membership of the Board or by an order of the State Government after giving show cause and hearing. (9) Member (s) of the Board shall be accountable and answerable only for such monies, stocks, shares, securities and funds which actually come into his/their hands or in respect of the function delegated or discharged by them. The Trustee shall not be answerable or accountable for neglect, default, Acts or omissions or commissions of the other Trustees, or other person with whom theTrust properties or any securities may have been deposited or kept. (10) The Board or any member thereof shall not be held accountable on account of any decisions or function discharged in good faith.

6.(1) All nominated members of the Board shall have one (1) vote. (2) The ex-officio members of the Board shall not have any vote, but will be entitled to participate and express opinion in deliberations of the Board. (3) The quorum of the Board shall be not less than seven (7) members including at least five nominated members and two ex-officio members. (4) The Board shall meet once every three (3) months and at such other times and frequency as may be deemed necessary by the Board. (5) A notice of fifteen days, effective from the date of notification will be necessary for carrying out the meetings. However, an emergent meeting may be carried out dispensing any requirement of time in the manner so determined by the Board by means of rules. (6) All resolutions of the Board shall be carried out by a vote of simple majority unless required to be passed by a special majority in respect of certain subjects under this Act. (7) The Board shall appoint in its first meeting and thereafter from time to time upon vacancy a Chairman, a General Secretary and a Treasurer and such office bearers and committees and sub-committees who shall hold such office till they cease to be a member of the Board or unless removed by a resolution of 2/3 members present and voting of at least half the total membership of the Board. (8) Any one or more trustee of the Board other than ex-officio trustees can be removed by a resolution of 2/3rd members present and voting of at least half the total membership of the Board or by an order of the State Government after giving show cause and hearing. (9) Member (s) of the Board shall be accountable and answerable only for such monies, stocks, shares, securities and funds which actually come into his/their hands or in respect of the function delegated or discharged by them. The Trustee shall not be answerable or accountable for neglect, default, Acts or omissions or commissions of the other Trustees, or other person with whom theTrust properties or any securities may have been deposited or kept. (10) The Board or any member thereof shall not be held accountable on account of any decisions or function discharged in good faith.

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