Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall meet at such times and such places, and shall observe such rules of procedure in regard to the transaction of business at its meeting as may be provided by the regulations: Provided that the Hoard shall meet-at ., Ieast once every three months. (2) The meetings of the Board shall be presided over by its Chairperson or, in his or her absence by the senior most Member nominated by the Members who are present at the meeting from among themselves. (3) The quorum required for transacting any business by the Board at its meeting shall be at least four, who shall be present in all the meetings of the Board. Meetings of the Board shall be suspended or terminated if the number of Members present becomes less than the quorum. (4) A decision of the majority of Board Members present at a meeting of the Board shall be the decision of the Board and, in the event of an equality of votes; the person presiding at the meeting shall have a casting vote in addition to his or her deliberative vote. (5) The Members of the Board shall discharge the obligations under this Act and the rules made under this Act on an honorary basis and the expenses incurred. in connection with such discharge of , obligations and conduct of meetings shall form part of the administrative expenses of the Board.