PROCEEDINGS OF THE BOARD

 

  • The Board shall meet at such times and places as the Board shall determine and until the Board determines otherwise, five members of the Board present shall be a quorum.

  • If the Chairman of the Board be absent from a meeting and unless a Vice-Chairman has been appointed and is present, those members of the Board present shall elect one from their number to be the Chairman for that occasion. All questions to be decided by the Board shall be decided by a simple majority of votes, each member of the Board having one vote and, in the event of equality of votes, the Chairman shall have a second or casting vote.
  • The Board may delegate any of the powers it possesses to manage the business of the Company, to a Sub-Committee of its own members who shall, in the functions entrusted to it, conform in all respects to the instructions and regulations given to it by the Board.
  • All acts done in good faith by any meeting of the Board or of any Sub-Committee thereof, shall notwithstanding that it shall afterwards be discovered that there was any defect in the appointment of any member or members of the Board or that any one or more of them were disqualified, be as valid as if every Board member had been duly appointed and was duly qualified to serve.
  • The Minutes of all meetings of the Company and of the Board respectively and of every Sub-Committee shall be regularly recorded by the Secretary, and the Minutes of every General Meeting and of every meeting of the Board shall be read at the next of such meetings respectively and signed by the Chairman of the meeting at which they are so read, and the Minutes of every Sub-Committee meeting shall be read at the meeting of the Committee following and signed by the Chairman of such meeting, and all Minutes so signed shall be conclusive as between the Company and every shareholder thereof subject to the correction of any patent error.
  • The Secretary of the Company shall perform such duties as the Board shall from time to time require, and he shall keep in his charge all the documents, papers and Minute Books belonging to the Company and of the Board, excepting that the financial books and relevant papers of the Company shall be in the charge of the Treasurer.
  • The Board shall prepare "Guidelines for Residents", "Building Activity Guidelines" and "Planning Guidelines" and shall review these documents at regular intervals. Any revisions will be circulated to all shareholders of the Company.