Amendment status not verified — confirm the current text below against the official source.
The Board shall meet once a year in it meeting called Annual Meeting, and such Annual Meeting for any ye"r shall be held before the expiry of thr~e months from the end of the inunediatelv preceding academic session 01 the school. The procedure for holding such meeting shall be such as may be prescribed. At an Annual Meeting the Board shall consider the Annual Report pre- sented to it by the Executive Committee including the audited accounts and auditor's report relating to the immediately preceding year and pass the same without notification or pass the same with observations for con- sideration of the Executive Committee. In the Annual Meeting the Board shall appoint or reappoint an auditor as required under Section 7 (3). In addition to an Annual Meeting the Bo ard l11:'<ymeet as often as is nece- ssary (such a meeting being called 'Special Meeting') provided that following conditions are satisfied;- . (i) The proposal to hold any special meeting should originate from the Executive Committee except where a Special Meeting is summoned under Section 7 (4). (ii) The agenda for the meeting should be circulated among all members of the Board at least seven days before the date of the proposed meeting. (iii) There should be proper notice of the meeting to all members of the Board in accordance with procedure prescribed in respect of Annual Meeting. (iv) Other procedural regulations regarding a Special Meeting shall be the same as in the case of an Annual Meeting. CHApTER III Powers and Fu.nctions of the Board. 7· The Board shall be the legal owner of the school and all its properties and the employer of all employees of the school including its Principal. The Chairman shall be the appointing authority of all employees of the school including its Principal. The Board's prior sanction shall be ob- tained (in an Annual Meeting or a Special Meeting) by the Executive Committee before any immovable properties are acquired by outright purchase or disposed of by way of sale or otherwise, and such acquisitions and disposals shall be made in the name of the Board. The Board shall, in its Annual Meeting, appoint an auditor (which term includes a firm of auditors) who is qualified to audit Company Accounts, to audit the accounts of the school for the year in which the Annual Meeting is held: Provided that the same auditor shall not be appointed for more than three consecutive years. The Board may remove any member of' the Executive Committee in a Special Meeting summoned at the instance of the Chairman for proved misuse of power and grave infringement of the provisions of this Act and the regulations made thereunder, and make such transitory provisions as it deems fit to remedy the vacancy thus caused. Any alterations in the structure of the school of the type described below shall be within the exclusive competence of the Board, and it may con- sieler them in an Annual Meeting or a Special Meeting;- (i) (ii) Change in the medium of instruction in the school. Abolition or addition of class. (Provided that this docs not apply to abolition or addition of a division or section of an existing class). Proceedings of the Board. Board as owner and employer. Property transactions. Appointment of auditor. Removal ofmember : of Executive Committee .. Certain alterations of school-structure with. in exclusive compe- tence of Board. Transfer of school property and other properties. The TN A Board Fund. The TNA Captial . lund.: . . . Application of the Fiind~' Tower ofExecutive Committee to nego- Ilate regarding transactions. 4 (i ii) Change over of the affiliation of the school to a1Y Board, Councilor other body for Examinations to any other Board, Council or other body for Examinations. CHAPTER IV Finance, Properties and Accounts