“(1) The Governing Council shall meet at least once in three months and not less than fifteen days notice shall be given of such meetings to the members. In case of any exigencies a meeting can be called without giving fifteen days prior notice.
(2) The meeting of the Governing Council shall be called by the Managing Director under instructions of the Chairperson.
(3) One-half of the members of the Governing Council shall form the quorum at any meeting.
2[Provided that in the absence of required quorum, the meeting may be adjourned by thirty minutes. After adjournment, the meeting may be conducted if atleast one-third of the total numbers of members are present.]
(4) In case of difference of opinion among the members the opinion of the majority shall prevail.
(5) Each member of the Governing Council shall have one vote and in the case of equality of votes, the Chairperson of the Governing Council or the member presiding over that meeting shall, as the case may be, have a casting vote.
(6) If urgent action by the Governing Council becomes necessary, the Chairperson may permit the business to be transacted by circulation of papers to the members of the Governing Council. The action so proposed to be taken shall not be taken unless agreed to by a majority of members of the ---7--- Governing Council. The action so taken shall be forthwith intimated to all the members of the Governing Council. In case Governing Council concerned fails to take decision, the matter shall be referred to the Chairperson whose decision shall be final.