Section 12Section 12

s. 12

12 (1) The meetings of a Board shall be held at such times and place as may be prescribed: Provided that a meeting may also be otherwise convened by the Chairman when he so thinks fit. (2) To constitute a quorum at a meeting of the Board of the controlling Corporation not less than five, including at least two whole-time Directors, and at a meeting of the Board of a subsidiary Corporation not less than three Directors, including the Chairman, shall be present. (3) At a meeting of a Board each Director shall have one vote, and in the event of equality of votes the Chairman shall have a second or casting vote. (4) No Director shall vote on any matter in which he is directly or indirectly interested. (5) If for any reason the Chairman of a Board is unable to be present at a meeting, a Director elected by the Directors present shall preside over the meeting.