(1) Any committee constituted under sub-section (3) of section 12 of the Act shall, in the exercise of the powers entrusted to it; be bound by such general or special directions as the Board or the Executive Committee may give from time to time.
(2) Meetings of any such committee may be convened by the chairman of the committee from time to time at the head office of the Small Industries Bank, or at such other place in India as may be specified in the notice convening the meetings. Sufficient notice shall be given for such meetings.
(3) The quorum for the meeting of any such committee shall be one third of its strength (any fraction contained in that one-third being rounded off as one).
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(4) The provisions of regulation 6 shall apply to every member and to meetings of any such committee in the same manner as that regulation applies to every member and to meetings of the Executive Committee:
Provided that if any such member has given any notice under regulation 6 to the Board or the Executive Committee, it shall not be necessary for him to further disclose his concern or interest in pursuance of this sub-regulation.
CHAPTER III FEES AND ALLOWANCES OF DIRECTORS