(1) The Metropolitan Authority shall meet at least once in three months, at such place and at such time as the Chairman may decide; and shall, subject to the provisions of sub-section (3), observe such rules of procedure in regard to the transaction of business at its meetings (including the quorum thereat) as may be laid down by regulations.
[(2) The Chairman shall preside at the meetings of the Authority. In the absence of the Chairman, at any meeting, any other member of the Authority elected by the members present at the meeting shall, preside at such meeting.]
(3) A member of the Authority, who has or acquires, directly or indirectly, any share or pecuniary or other interest in any contract, loan, arrangement or proposal entered into, or proposed to be entered into, by or on behalf of the Authority, shall cease to be a member of the Authority :
Provided that, a member shall not be deemed to have any such share or interest by reason only of his being a shareholder of a public limited company concerned in any such contract, loan, arrangement, or proposal or that he himself or any relation of his is employed by or on behalf of the Authority, or he has such share or interest in his capacity as a member of the Authority, or his property, or any property in which he has a share or interest, is or is being acquired or taken on lease by or on behalf of the Authority by agreement or according to any law for the time being in force.
(4) If any question arises whether a member of the Authority has become subject to the disqualification mentioned in the last preceding sub-section, the question shall be referred for decision of the State Government, and its decision shall be final.