Amendment status not verified — confirm the current text below against the official source.
(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 (including the quorum at meetings) as may be provided by regulations made by the Corporation under this Act. 3[(2) If for any reason, the Chairman is unable to attend any meeting, the Vice-Chairman, and in his absence, any other director, elected from amongst the directors present at the meeting, shall preside at the meeting.] 1Inserted by Punjab Act No. 16 of 1979, Section 5, on and with effect from the 17th day of September, 1979. 2Substituted for word “Chairman” by Punjab Act No. 20 of 2013, Section 4, on and with effect from the 19th day of September, 2011. 3Substitutedby Punjab Act No. 20 of 2013, Section 5, on and with effect from the 19th day of September, 2011. Meetings. 1[(3) All questions, which come up before any meeting, shall be decided by a majority of the votes of directors present and voting, and, in the event ofequality of votes, the Chairman, or in his absence, the Vice- Chairman, or in his absence, the director presiding over the meeting, shall have and exercise a second or casting vote.]