(1) Any business which is to be transacted by the Board or a Committee may, if the Chairman of the Board or of the Committees so directs, be referred to members (other than members who are absent from India) by circulation of papers.
(2) Any proposal or resolution circulated under sub-regulation (1) and approved by the majority of members who have recorded their views in writing shall be as effectual and binding as if such proposal or resolution were decided by the majority of the members at a meeting.
Provided that at least eight members of the Board or four members of the Committee as the case may be have recorded their views on the proposal or resolution.
Provided further that when a proposal or resolution is referred to the members by circulation, any five members, of the Board or three members of any of the Committees, as the case may be, may require that the proposal or resolution be referred to members at a meeting, and thereupon such reference shall be made to members at a meeting of the Board or of the Committee, as the case may be.
(3) When any business is referred to members of the Board or of the Committee, as the case may be, by circulation, a period of not less than fifteen clear days shall be allowed for receipt of replies from members. Such period shall be reckoned from the date on which the notice of business is issued.
(4) If a proposal or resolution is circulated, the result of the circulation shall be communicated to all the members of the Board or of the Committee concerned.
(5) All decisions on questions arrived at by circulation of papers shall be placed at the next meeting of the Board or of the Committee, as the case may be for record.