Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall meet at such time and place and shall observe such rules of procedure in regard to transaction of business at its meetings, as may be specified in the Scheme. (2) The Chairperson shall preside over the meetings of the Board. When the Chairperson of the Board is absent, the Vice Chairperson shall preside over the meetings. The Chief Executive Officer shall be the Convener of the Board meetings. (3) Agenda of a meeting of the Board shall be decided by a majority of two-third of the votes of the members present and voting and in case of any equality of votes, the person presiding shall have a second or casting vote. (4) The quorum for a meeting shall be eight and atleast one independent member shall attend the meeting. (5) All investment decisions taken in the Board meetings in the absence of the Chairperson shall be ratified by the Chairperson before implementation. (6) The members of the Board may, with the permission of the Chairperson, attend the meetings of the Board through video conferencing. (7) No act or proceedings of the Board shall be invalid by reason only of the existence of any vacancy amongst its members or any defect in the constitution thereof.] Inserted by Act 15 of 2016 (w.e.f. 19/08/2016).