(1) The meetings of the Price Fixation Committee shall generally be held at Bengaluru and the Chairman may determine such other place as he may think fit to conduct such meetings of the committee.
(2) The Price Fixation Committee shall be convened once in a four months or as and when the situation demands for effective and efficient implementation of the project.
(3) The notice of the meeting of the Price Fixation Committee shall be sent by the Member Secretary of the Committee to all the members at least fifteen days in advance before the date fixed for the meeting.
(4) The minimum quorum required for conducting the Price Fixation Committee meeting shall be three persons.
(5) The Price Fixation Committee shall decide and recommend the formula to be adopted for calculating the monthly purchase price of Oil Palm Fresh Fruit Bunches by the entrepreneurs.