(1) Any business of the institute '"which may be necessary for the institute to transact'may, if the President so directs, be dealt with by circulation of agenda papers alongwith a draft resolution incorporating the decision required among all the members of the institute at their usual address and any draft resolution so circulated and approved by the majority of the members of the institute 20 THEGAZETTEOFINDIA:EXTRAORDINARY [PAKTII—SEC.3(J)1 signing shall be as effectual and binding as if the resolution had been passed at a meeting of the institute provided that at least twelve members of the institute have recorded their views on the resolution.
(2) A member shall give reply within twenty-one days from the date of issue of the notice of such business and if no reply is received from a member of the institute within the said period, he shall be deemed to have supported the draft resolution.
(3) If a draft resolution is circulated, the result of the circulation shall be communicated to all members of the institute and the resolution shall also be placed before the next meeting of the institute for confirmation.