(1) The quorum for any meeting of the Authority shall be two and no business shall be transacted at any meeting of the Authority unless the quorum is present throughout the meeting.
(2) If the quorum is not present at any meeting of the Authority, the Chairperson or in his absence, the Chief Executive Officer or the senior most Member presiding over the meeting, shall adjourn the meeting to such other date, time and place as may be specified by him not being later than thirty days:
Provided that if at such adjourned meeting quorum is not present, then, notwithstanding anything contained in sub-regulation (1), the Members present at the said adjourned meeting, shall constitute a quorum for such meeting to take up discussion and to dispose of only the items of business set out in the agenda for the initial meeting.