14[Board].—(1) A 14[Board] shall meet at such times and places and shall, subject to the provisions of sub-sections (2) and (3), observe such rules of procedure in regard to transaction of business at its meetings as may be provided by regulations made under this Act:
Provided that the 14[Board] shall meet at least once in every three months.
(2)The person to preside at a meeting of a 1[Board] shall be the Chairman thereof, or in his absence from any meeting, the Vice-Chairman, if any, or in the absence of both the Chairman and the Vice-Chairman, 2[such Director as may be chosen by the Directors present] from among themselves to preside.
(3)All questions at a meeting of a 1[Board] shall be decided by a majority of votes of the members present, and in the case of equality of votes, the Chairman or, in his absence, any other person presiding shall have a second or casting vote.