(1) The Authority shall meet at such times and places and shall, subject to the provisions of sub-sections (2) and (3) observe such procedure in regard to the transaction of its business at such meetings as the Authority may provide by regulations.
(2) [At every meeting of the Authority, the Chairman, if present, or, in his absence, the Co-Chairman, or, in his absence, the Vice-Chairman, and if the Vice-Chairman is also not present, then any one of its members, whom the members present may elect, shall preside.]
(3) All questions at a meeting of the Authority shall be decided by a majority of votes of the members present and voting and in the case of equality of votes, the member presiding shall have a second or casting vote.
(4) Minutes shall be kept of the names of the members present and of the proceedings at each meeting in a book to be maintained for the purpose which shall be signed at the next meeting by the member presiding at such meeting and shall be open to inspection by any member during office hours.
(5) For the transaction of business at a meeting of the Authority, the quorum shall be one-third of the number of members actually serving for the time being but shall not, in any case, be less than four:
Provided that if a meeting is adjourned for want of quorum, no quorum shall be necessary at the next meeting for transacting the same business:
Provided further that a notice of the adjourned meeting shall be sent to all members of the Authority.