Section 4 in The Insurance Regulatory And Development Authority (Meetings) Regulations, 2000
4. Quorum.
(1)The quorum for transaction of business at a meeting of the Authority shall be a minimum of one-third of the appointed members present.(2)Where at any time the total strength of the Authority is less than four,the total number of members, being not less than two, shall constitute the quorum during such time.(3)If at any meeting, quorum is not present, the Chairperson or the presiding member, as the case may be, shall after waiting for thirty minutes, adjourn the meeting for such hour on some other day as he may think fit and the notice of such adjournment shall be given to all the members and the business which was to have been brought before the original meeting, had there been a quorum, shall be brought before the adjourned meeting. Where at the adjourned meeting also, the required quorum is not present, the members present, shall constitute the quorum.(4)A member shall attend all the meetings of the Authority, save where leave of absence has been sought and the same has been granted by the Chairperson or the presiding member.
